A gambling book recommends the following "winning strategy" for the game of roulette. It recommends that a gambler bet $1 onred. If red appears (which

Armorikam

Armorikam

Answered question

2020-12-06

A gambling book recommends the following "winning strategy" for the game of roulette. It advises a $1 single wager from the player. When the color red appears (probability 18/38), the gambler should take her $1 profit . If the gambler loses this bet (which has probablity 20/38 of occurring), she should make additional $1 bets on red on each of the next two spins of the roulette wheel and then quite. Let X denote the gamblers

Answer & Explanation

2abehn

2abehn

Skilled2020-12-07Added 88 answers

a) Remember that when you bet $1 and lose the bet,you lose the $1. Therefore, you have to earn $2 just to walk out with a net gain of $1. So the answer is:
P{X>0}=(1838)+((2038)(1838)(1838))=.5918
b) To get this answer, you really need to do part first. Ill

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