Red Roulette
The probability of success in roulette is to bet on RED is 0474?
(There are 38 clots: 18 º, 18 black and green 2, so the proportion of Red slots that is 18/38.) If you bet $ 10 on red and win, you win $ 10. The probability that it is 474 if you bet $ 10 on red and lose, you lose $ 10. The likelihood of it being a .526) What is the probability distribution that describes "how much we end up with if you bet $ 10 in red?" XP 2) What is the average of the distribution? (How much you expect to lose?) 3) What is the standard deviation of this distribution? Suppose you bet $ 10 RED 2500 times! 4) What do you expect to win or lose? (What is the expected value of the sum?) 5) What is the standard error sum? 6) What is the probability that you end up with a sum greater than 0, after playing 2,500 times roulette, and bet on RED? (What is the probability that "making money" or finish ahead?)
1) X = X * P * P ————— 10 * 0.474 = 4.74 -10 * 0.526 = -5.26 2) total = -0.52
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