Finding Expected Value in Craps When you give a casino $5 for a bet on the pass

Question:

Finding Expected Value in Craps When you give a casino $5 for a bet on the “pass line” in the game of craps, there is a 244 495 probability that you will win $5 and a 251 495 probability that you will lose $5. What is your expected value? In the long run, how much do you lose for each dollar bet?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Elementary Statistics

ISBN: 9780201775709

9th Edition

Authors: Mario F. Triola

Question Posted: