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The roulette wheel has 38 slots. Two of the slots are green, 18 are red, and...

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Statistics

The roulette wheel has 38 slots. Two of the slots are green, 18are red, and 18 are black. A ball lands at random in one of theslots. A casino offers the following game. Pay $1 to enter thegame. If the ball falls on black, you don’t get anything, if theball falls on green, you get a dollar, if the ball falls on red,you get $1.95. Bob plays this game 100 times, and of course, the100 outcomes are independent. What is the probability that he comesout ahead?

Answer & Explanation Solved by verified expert
3.6 Ratings (365 Votes)
For each round we compute the payoffs net of cost asPX 1 Pblack 1838 919PX 0 Pgreen 238 119PX 095 Pred 1838    See Answer
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