Find bookies expected earnings per dollar wagered

Assignment Help Basic Statistics

Reference no: EM13113904

Suppose a bookie will give you $6 for every $1 you risk if you pick the winner in 3 ballgames. For every $1 bet, you either lose $1 or gain $6. What is the bookies expected earnings per dollar wagered?

Reference no: EM13113904

Questions Cloud

Describe what segmentation is : Describe what segmentation is and discuss different segmentation bases you could use for your product/service

What is mean fitness of the population in generation 2 : After some time, you start your experiment. Before exposing the population to pesticide, you are able to determine that the frequency of the resistance allele in the sample is 0.08.

What is the new water level in the cylinder : A graduated cylinder contains 145mL of water. A 10.0g piece of iron (density = 7.86g/cm3 ) and a 22.0g piece of lead are added.

Computing z scores and percentiles : What is the lowest raw score that a client must have on Anxiety Scale A in order to be admitted into this new group? Also assuming some clinics use Anxiety Scale B and often refer their clients to Mary, what is the cutoff point (lowest raw score) ..

Find bookies expected earnings per dollar wagered : Suppose a bookie will give you $6 for every $1 you risk if you pick the winner in 3 ballgames. For every $1 bet, you either lose $1 or gain $6. What is the bookies expected earnings per dollar wagered?

Elucidate how these controls impact the four functions : Examine the positive and negative reactions to the use of these controls. Elucidate how these controls impact the four functions of management.

Find probability that mail will arrive later : A normal distribution with a mean time of 2:00pm and a standard deviation of 15 minutes. What is the probability that the mail will arrive later than 2:30pm?

Hypothesis testing of insurance company : 21st Century Insurance Company claims that telephone calls for policy holder information are answered in at most 3 minutes. A random survey of 36 phone calls results in the mean 3.3311 and standard deviation 2.1788.

Calculate the total blood volume the individual : A 10ml suspension of cr51 labelled red blood cells containing 3 x 108 cpm total radioactivity was injected into a subject, after 10minutes a small blood sample was taken ,found to contain 5x104 cpm, calculate the total blood volume the individual?

User Account

All Pages