Asked by Amanda
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
Answered by
drwls
The sum of what?
Answered by
Amanda
the sum of the draws... basically the net gain
Answered by
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.
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