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The following problem presumes an American Roule e wheel. The casino payout for a bet on the basket is 6:1 (meaning for a $1 bet,

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The following problem presumes an American Roule e wheel. The casino payout for a bet on the "basket" is 6:1 (meaning for a $1 bet, you will receive back your $1 plus $6 from the casino). The following is a probability distributon for your profit for one spin of the wheel if you bet $1 on "basket". The probability of a "basket" is 5/38. Profit Probability a. Fill out the table at le . Outcome b. Calculate your expected profit for a single $1 bet on the "basket." Give 4 decimal places. c. If you decided to bet a $50 chip on the "basket," what is your expected profit? beting d. Explain why be ng on the "basket" in American Roule e is NOT a "fair game." MAT 133: 6.1 WS 3 p. 3

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