Roulette. A roulette wheel has 38 slots, of which 18 are black, 18 are red, and 2are
Chapter 0, Problem 11.28(choose chapter or problem)
Roulette. A roulette wheel has 38 slots, of which 18 are black, 18 are red, and 2are green. When the wheel is spun, the ball is equally likely to come to rest in anyof the slots. One of the simplest wagers chooses red or black. A bet of $1 on redreturns $2 if the ball lands in a red slot. Otherwise, the player loses his dollar.When gamblers bet on red or black, the two green slots belong to the house.Because the probability of winning $2 is 18/38, the mean payoff from a $1 bet istwice 18/38, or 94.7 cents. Explain what the law of large numbers tells us aboutwhat will happen if a gambler makes very many bets on red.
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