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 odd number, the payoff odds are 1:1. How much profit do you make if you bet $15 and win? If you win, the payoff is $. d. How much profit should you make on the $15 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. 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 odd number, the payoff odds are 1:1. How much profit do you make if you bet $15 and win? If you win, the payoff is $. d. How much profit should you make on the $15 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.)
Holt Mcdougal Larson Pre-algebra: Student Edition 2012
1st Edition
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
Chapter6: Ratio, Proportion, And Probability
Section6.8: The Multiplication Principle
Problem 18E
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