Question

2) Cathy went to the casino and bet on # 11 of a game which P(Losing)...

2) Cathy went to the casino and bet on # 11 of a game which P(Losing) = 45/46 which Payoff-odd is
129:3, Given that the Net Profit is $301 , Find: a) the Prize ; b) the odd-against that bet;
Is she better off with that bet or a bet on a small town Lotto which Expected –Value is -0.3 ?

Math   Statistics-And-Probability   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
In the game of​ roulette, when a player gives the casino ​$16 for a bet on...
In the game of​ roulette, when a player gives the casino ​$16 for a bet on the number 26​, the player has a 37/38 probability of losing ​$16 and a 1/ 38 probability of making a net gain of ​$560. ​(The prize is ​$576​, but the​ player's ​$16 bet is not​ returned, so the net gain is ​$560​.) If a player bets ​$16 that the outcome is an odd​ number, the probability of losing ​$16 is 20/38 and the probability...
In the game of​ roulette, when a player gives the casino ​$7 for a bet on...
In the game of​ roulette, when a player gives the casino ​$7 for a bet on the number 20​, the player has a StartFraction 37 Over 38 EndFraction probability of losing ​$7 and a StartFraction 1 Over 38 EndFraction probability of making a net gain of ​$245. ​(The prize is ​$252​, but the​ player's ​$7 bet is not​ returned, so the net gain is ​$245​.) If a player bets ​$7 that the outcome is an odd​ number, the probability of...
1.A fair die is rolled once, and the number score is noted. Let the random variable...
1.A fair die is rolled once, and the number score is noted. Let the random variable X be twice this score. Define the variable Y to be zero if an odd number appears and X otherwise. By finding the probability mass function in each case, find the expectation of the following random variables: Please answer to 3 decimal places. Part a)X Part b)Y Part c)X+Y Part d)XY ——- 2.To examine the effectiveness of its four annual advertising promotions, a mail...
Sign In INNOVATION Deep Change: How Operational Innovation Can Transform Your Company by Michael Hammer From...
Sign In INNOVATION Deep Change: How Operational Innovation Can Transform Your Company by Michael Hammer From the April 2004 Issue Save Share 8.95 In 1991, Progressive Insurance, an automobile insurer based in Mayfield Village, Ohio, had approximately $1.3 billion in sales. By 2002, that figure had grown to $9.5 billion. What fashionable strategies did Progressive employ to achieve sevenfold growth in just over a decade? Was it positioned in a high-growth industry? Hardly. Auto insurance is a mature, 100-year-old industry...
What tools could AA leaders have used to increase their awareness of internal and external issues?...
What tools could AA leaders have used to increase their awareness of internal and external issues? ???ALASKA AIRLINES: NAVIGATING CHANGE In the autumn of 2007, Alaska Airlines executives adjourned at the end of a long and stressful day in the midst of a multi-day strategic planning session. Most headed outside to relax, unwind and enjoy a bonfire on the shore of Semiahmoo Spit, outside the meeting venue in Blaine, a seaport town in northwest Washington state. Meanwhile, several members of...
Please answer the following Case analysis questions 1-How is New Balance performing compared to its primary...
Please answer the following Case analysis questions 1-How is New Balance performing compared to its primary rivals? How will the acquisition of Reebok by Adidas impact the structure of the athletic shoe industry? Is this likely to be favorable or unfavorable for New Balance? 2- What issues does New Balance management need to address? 3-What recommendations would you make to New Balance Management? What does New Balance need to do to continue to be successful? Should management continue to invest...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT