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Mean Household Size and Roulette Probability

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?

Solution Summary

This solution is provided in approximately 262 words in an attached .doc file. It uses calculations for the mean to find the solution to the number of people living in American households, and calculations probability of a roulette game.