Mathematics, 24.10.2021 20:40 sierranowe2003

Let's look back at our bet on either "Aces" or "Boxcars". We win if we roll a sum of 2 for Aces" or a sum of 12 for "Boxcars". Let's place a $10 bet on "Boxcars" 36 as cores
a) What is the probability of winning?
P(W) =
b) What is the probability of losing?
c) The payoff odds are 30:1. What does this mean?
d) Complete the following table. In the X column write in the dollar amount you will win
or lose respectively.
Event
х
P(X)
X. P(X)
Win
Lose
e) What is the expected value? Is this a loss or a gain?
f) Explain what this value means.
g) How much do you lose for each dollar bet? Would it be wise to spend the entire
afternoon betting on "Boxcars"?

Let's look back at our bet on either Aces or Boxcars. We win if we roll a sum of 2 for Aces or

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Let's look back at our bet on either "Aces" or "Boxcars". We win if we roll a sum of 2 for Aces" or...

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