Mathematics, 20.01.2022 14:00 kang39
A roulette wheel contains the numbers 0, 00, and 1 to 36. If you bet $1 on a single number coming up, you earn $35 if the number comes up and lose $1 otherwise. Find the mean and standard deviation of your winnings on a single bet. Then find the mean and standard deviation of your net winnings if you make 100 bets. You can assume (realistically) that the results of the 100 spins are independent. Finally, provide an interval such that you are 95% sure your net winnings from 100 bets will be inside this interval.
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A roulette wheel contains the numbers 0, 00, and 1 to 36. If you bet $1 on a single number coming up...
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