Question

A modified roulette wheel has 32 slots. One slot is 0, another is 00, and the others are numbered 1 through 30, respectively. You are placing a bet that the outcome is an even number. (In roulette, 0 and 00 are neither odd nor even.) a. What is your probability of winning? The probability of winning is (Type an integer or a simplified fraction.) b. What are the actual odds against winning? The actual odds against winning are : c. When you bet that the outcome is an even number, the payoff odds are 1:1. How much profit do you make if you bet $16 and win? If you win, the payoff is $ d. How much profit should you make on the $16 bet if you could somehow convince the casino to change its payoff odds so that they are the same as the actual odds against winning? $ (Round to the nearest cent as needed.)

          A modified roulette wheel has 32 slots. One slot is 0, another is 00, and the others are numbered 1 through 30, respectively. You are placing a bet that the outcome is an even number. (In roulette, 0 and 00 are neither odd nor even.)
a. What is your probability of winning?
The probability of winning is 
(Type an integer or a simplified fraction.)
b. What are the actual odds against winning?
The actual odds against winning are :
c. When you bet that the outcome is an even number, the payoff odds are 1:1. How much profit do you make if you bet $16 and win?
If you win, the payoff is $
d. How much profit should you make on the $16 bet if you could somehow convince the casino to change its payoff odds so that they are the same as the actual odds against winning?
$ (Round to the nearest cent as needed.)

$A modified roulette wheel has 32 slots. One slot is 0, another is 00, and the others are numbered 1 through 30, respectively. You are placing a bet that the outcome is an even number. (In roulette, 0 and 00 are neither odd nor even.) a. What is your probability of winning? The probability of winning is (Type an integer or a simplified fraction.) b. What are the actual odds against winning? The actual odds against winning are : c. When you bet that the outcome is an even number, the payoff odds are 1:1. How much profit do you make if you bet 16 and win? If you win, the payoff is d. How much profit should you make on the 16 bet if you could somehow convince the casino to change its payoff odds so that they are the same as the actual odds against winning? (Round to the nearest cent as needed.)$

Added by Monica J.

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