Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A roulette wheel has 38 numbers. Eighteen of the numbers are black, eighteen are red, and two are green. When the wheel is spun, the

A roulette wheel has 38 numbers. Eighteen of the numbers are black, eighteen are red, and two are green. When the wheel is spun, the ball is equally likely to land on any of the 38 numbers. Each spin of the wheel is independent of all other spins of the wheel. One roulette bet is a bet on blackthat the ball will stop on one of the black numbers. The payoff for winning a bet on black is $2 for every $1 one bets; that is, if you win, you get the dollar ante back and an additional dollar, for a net gain of $1, while if you lose, you gets nothing back, for a net loss of $1. Each $1 bet thus results in the gain or loss of $1. Suppose one repeatedly places $1 bets on black, and plays until either winning $4 more than he has lost, or loses $4 more than he has won. Equivalently, one plays until the first time that

| net winnings | = | $won $bet | = |$2(#bets won) $1#bets | = $4,

where |x| is the absolute value of x.

What is the chance that one places exactly 5 bets before stopping?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Algebra And Number Theory An Integrated Approach

Authors: Martyn R Dixon, Leonid A Kurdachenko, Igor Ya Subbotin

1st Edition

0470640537, 9780470640531

More Books

Students also viewed these Mathematics questions

Question

14. Now reconcile what you answered to problem 15 with problem 13.

Answered: 1 week ago