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Business, 07.03.2020 05:27 parisowl7900

Consider the following strategy playing the roulette. Bet $1 on red. If red appears (which happens with probability 18/38), then take $1 and stop playing for the day. If red does not appear, then bet additional $1 on red each of the following two rounds, and then stop playing for the day no matter the outcome. Let X be the net gain (a negative gain means a loss). (a) Find the probability mass function of X; (b) Compute P. X > 0/: Is this a good strategy

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Consider the following strategy playing the roulette. Bet $1 on red. If red appears (which happens w...
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