Expected number of people in american household

Reference no: EM13103810

It's estimated that 57% of Americans live in households with 1 or 2 people, 32% live in households with 3 or 4 people and 11% live in households with 5 or more. Explain how you will find the expected number of people in an American household.

The probability of winning when you bet on a single number in roulette is 1 in 38. A $1 bet yields a net gain of $35 if it wins.

a. suppose that you bet $1 on the single number 23. What is your probability of winning?

Reference no: EM13103810

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