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You decide that you will spend an entire day playing roulette and just betting on the double street which is a bet on two side-by-side
- You decide that you will spend an entire day playing roulette and just betting on the "double street" which is a bet on two side-by-side rows of 3 values on the roulette table. You win the bet if any of your 6 numbers come up, but you lose otherwise. This type of bet has a 5:1 payoff. You decide that you will be making $5 bets.
- What is the expected value of this betting strategy?
- If you end up making a total of 200 bets of this type, how much money would you expect yourself to have won or lost at the end of the day?
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Understanding Financial Statements
Authors: Lyn FraserAlexa Fox, Judy Strauss, William Briggs, Mario Triola, S Certo, S. Certo, Philip Kotler, Robert Anthony, Barry Monk, Jaan Kiusalaas, R.C. Hi
10th Edition
0132655063, 9780132655064
