More roulette. An American roulette wheel has 38 slots, of which 18 are black, 18 are red,
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More roulette. An American roulette wheel has 38 slots, of which 18 are black, 18 are red, and 2 are green. When the wheel is spun, the ball is equally likely to come to rest in any of the slots. Gamblers bet on roulette by placing chips on a table that lays out the numbers and colors of the 38 slots in the roulette wheel. The red and black slots are arranged on the table in three columns of 12 slots each. A $1 column bet wins $3 if the ball lands in one of the 12 slots in that column. What is the expected amount such a bet wins? If you did the Case Study Evaluated, is a column bet more or less favorable to a gambler than a bet on red or black (see Question 1 in the Case Study Evaluated on page 437)?
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