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    Casino Odds

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    A gambler plays roulette, and makes a $1.00 bet on a pair of numbers, 4000 times. The bet pays 17 to 1 and it covers two numbers. I need to find the chance that the casino will make less than $300 from these plays.

    1. Find the amount of money the casino is expected to make
    2. What is the standard error of the sum and the chance the casino will make less than $300 form these plays?

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    https://brainmass.com/statistics/dispersion-and-spread-of-data/casino-odds-172489

    Solution Preview

    A gambler plays roulette, and makes a $1.00 bet on a pair of numbers, 4000 times. The bet pays 17 to 1 and it covers two numbers. I need to find the chance that the casino will ...

    Solution Summary

    Word document attached outlines how to find the amount a casino expects to make as well as the standard error of the sum.

    $2.19

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