Question
Roll a die 100 times. the casino pays 2to 1. you have a 12 in 38 chance to win. the sum could be ___ give or take___
Answers
drwls
The sum of what?
Amanda
the sum of the draws... basically the net gain
drwls
It depends upon how much is bet each time.
If you bet 1 dollar each time, there is a 26/38 = 0.6842 chance you will lose it,and a 12/38 = 0.3158 chance you will win $2, for a dollar gain of 0.6316.
There is a net loss expectation of 0.6842 - 0.6316 = 0.0526 per toss. That would be $5.26 after 100 tosses.
If you bet 1 dollar each time, there is a 26/38 = 0.6842 chance you will lose it,and a 12/38 = 0.3158 chance you will win $2, for a dollar gain of 0.6316.
There is a net loss expectation of 0.6842 - 0.6316 = 0.0526 per toss. That would be $5.26 after 100 tosses.