Explain why the game is not offered in a casino

Assignment Help Basic Statistics

Reference no: EM131812759

Question: A roulette wheel has 38 slots. Thirty-six slots are numbered from 1 to 36; the remaining two slots are numbered 0 and 00. Suppose the "number" 00 is considered not to be even, but the number 0 is still even. In a $1 bet on even, the bettor pays $1 to play. If the ball lands in an even numbered slot, he receives back the dollar he bet plus an additional dollar. If the ball does not land on an even numbered slot, he loses his dollar. Let X denote the net gain to the bettor on one play of the game.

a. Construct the probability distribution of X.

b. Compute the expected value E (X) of X, and explain why this game is not offered in a casino (where 0 is not considered even).

c. Compute the standard deviation of X.

Reference no: EM131812759

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