prob(red) = 18/38 = 9/19
expected value = (9/19)($1.00) = $ 0.474
how did you get .421 ?
I don't know how standard deviation is defined in this context.
Please check my answers.
Thank you!
The game of American roulette involves spinning a wheel with 38 slots: 18 red, 18 black, and 2 green. A ball is spun onto the wheel and will eventually land in a slot, where each slot has an equal chance of capturing the ball. Gamblers can place bets on red or black. If the ball lands on their color, they double their money. If it lands on another color, they lose their money. Suppose you bet $1 on red. What's the expected value and standard deviation of your winnings?
Is the expected value 0.421 and the standard deviation 1.50?
1 answer
1 answer