Odds. In Exercises 4346, answer the given questions that
Chapter 4, Problem 44(choose chapter or problem)
Odds. In Exercises 4346, answer the given questions that involve odds. Finding Odds in Roulette A roulette wheel has 38 slots. One slot is 0, another is 00,and the others are numbered 1 through 36, respectively. You place a bet that the outcome isan odd number.a. What is your probability of winning?b. What are the actual odds against winning?c. When you bet that the outcome is an odd number, the payoff odds are 1:1. How muchprofit do you make if you bet $18 and win?d. How much profit would you make on the $18 bet if you could somehow convince thecasino to change its payoff odds so that they are the same as the actual odds against winning?(Recommendation: Dont actually try to convince any casinos of this; their sense of humor isremarkably absent when it comes to things of this sort.)
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