Determine the expected value of betting $1 on red. Use the roulette wheel illustrated. A roulette wheel
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Determine the expected value of betting $1 on red.
Use the roulette wheel illustrated. A roulette wheel typically contains slots with numbers 1–36 and slots marked 0 and 00. A ball is spun on the wheel and comes to rest in one of the 38 slots. Eighteen numbers are colored red, and 18 numbers are colored black. The 0 and 00 are colored green. If you bet on one particular number and the ball lands on that number, the house pays off odds of 35 to 1. If you bet on a red number or black number and win, the house pays 1 to 1 (even money).
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Anurag Agrawal
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Related Book For 
A Survey of Mathematics with Applications
ISBN: 978-0134112107
10th edition
Authors: Allen R. Angel, Christine D. Abbott, Dennis Runde
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