places.)
0.7458 four decimal places.)
0.2542
probability to fill in the blanks in the biased wheel column. (Round your answers to four significant figures.)
able[[x, the Number of Winning Rounds,Net Profit from x Wins,Probability of x Wins with Biased Wheel],[0,-$36,],[1,$0,],[2,$36,],[3,$72,],[dots,dots,],[36,$1,260,]]
Calculate the probability of walking away with a net profit (better than break-even). (Round your answer to four decimal places.)
(d) Using tl
probabi
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(b)Using the table, calculate the probability of losing money or just breaking even for the balanced roulette wheel. (You will need to add together two rows of the table above. Round your answer to four decimal places.) 0.7458
(c) You know that all the probabilities have to add up to 1. Use the probability calculated in part (b) to calculate the probability of walking away with a net profit (better than break-even). (Round your answer to four decimal places.)
0.2542
(d)Using the biased wheel, Tisch 1, it was determined that the probability for one of the numbers was about 0.03776, which is higher than normal. Suppose you bet on this number for 36 rounds. Use this probability to fill in the blanks in the biased wheel column. (Round your answers to four significant figures.)
X,the Number of Winning Rounds Net Profit from X Wins Probability of X Wins with Biased Wheel
$36
1
$0
(p) Using tl probabi
2
$36
3
$72
-..
...
..
36
$1,260
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Calculate the probability of walking away with a net profit (better than break-even). (Round your answer to four decimal places.)