Solution-What is the expected value and standard deviation

What is the expected value and standard deviation

Reference no: EM13957953

One evening, Fyodor decides to play 10 games of roulette, betting $100 on black each time (this bet wins $100 with probability 18/38, and otherwise loses $100).

(i) What is the expected value and standard deviation of his total winnings?

(ii) Find the exact chance (i.e., not using a normal approximation) that he loses $400 or more over the course of the evening.

Reference no: EM13957953

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What is the expected value and standard deviation : Find the exact chance (i.e., not using a normal approximation) that he loses $400 or more over the course of the evening.

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What is the expected value and standard deviation

Reference no: EM13957953

Reference no: EM13957953

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