ROULETTE is a casino game where a numbered wheel spins and a steel ball falls into a location marked by one particular colored number. In the United States there are 18 locations colored red, 18 locations colored black and 2 locations colored green. The red and black locations are numbered 1-36 and the green locations are labeled "0" and "00" as shown in the picture to the right. The wheel therefore has 38 locations in total. Note that the odd and even values are not evenly distributed within each color.
For any particular wager a player makes, an expected profit can be calculated from: Expected profit = (Prob. of winning) x (winning payout amount) - wager
(a) One potential wager is to "bet on black" where you make a wager and if the ball lands in a black location you win an additional amount equal to the wager for a total payout equal to twice the wager. For example, if you bet $1 and win the casino gives you a $2 payout. If the ball lands on red or green you would lose your wager and the payout would be $0. What is the expected profit from making a $13 "bet on black"? (round to closest penny)
(b) To “let it ride” is to make a bet and if it wins to make the same bet with the entire payout amount. For example, if you bet $1 on black and win the casino gives you $2, you then "let it ride" by betting that $2 on black and if you win again the casino would give you $4. If the ball were to land on red or green on either spin of the wheel you would lose your wager and the final payout would be $0. What is the expected profit for betting $15 on black and if you win, "letting it ride" once? I.E., betting on black and if you win betting your winnings on black again? (keep in mind that if you lose the first bet you are done; round to closest penny)
(c) Another potential wager is to "bet on odd" which has the same payout as betting on black, but wins only when the ball lands in a location with an odd number of either color. If the ball lands on an even numbered location or a green space you lose your wager and the payout would be $0. What is the expected profit from placing two bets on a single spin - $17 on black and $19 on odd? (round to closest penny)
In: Statistics and Probability
ROULETTE is a casino game where a numbered wheel spins and a steel ball falls into a location marked by one particular colored number. In the United States there are 18 locations colored red, 18 locations colored black and 2 locations colored green. The red and black locations are numbered 1-36 and the green locations are labeled "0" and "00" as shown in the picture to the right. The wheel therefore has 38 locations in total. Note that the odd and even values are not evenly distributed within each color.
For any particular wager a player makes, an expected profit can be calculated from: Expected profit = (Prob. of winning) x (winning payout amount) - wager
(a) One potential wager is to "bet on black" where you make a wager and if the ball lands in a black location you win an additional amount equal to the wager for a total payout equal to twice the wager. For example, if you bet $1 and win the casino gives you a $2 payout. If the ball lands on red or green you would lose your wager and the payout would be $0. What is the expected profit from making a $13 "bet on black"? (round to closest penny)
(b) To “let it ride” is to make a bet and if it wins to make the same bet with the entire payout amount. For example, if you bet $1 on black and win the casino gives you $2, you then "let it ride" by betting that $2 on black and if you win again the casino would give you $4. If the ball were to land on red or green on either spin of the wheel you would lose your wager and the final payout would be $0. What is the expected profit for betting $15 on black and if you win, "letting it ride" once? I.E., betting on black and if you win betting your winnings on black again? (keep in mind that if you lose the first bet you are done; round to closest penny)
(c) Another potential wager is to "bet on odd" which has the same payout as betting on black, but wins only when the ball lands in a location with an odd number of either color. If the ball lands on an even numbered location or a green space you lose your wager and the payout would be $0. What is the expected profit from placing two bets on a single spin - $17 on black and $19 on odd? (round to closest penny)
In: Statistics and Probability
A 9-year-old girl did a science fair experiment in which she tested professional touch therapists to see if they could sense her energy field. She flipped a coin to select either her right hand or her left hand, and then she asked the therapists to identify the selected hand by placing their hand just under her hand without seeing it and without touching it. Among 288 trials, the touch therapists were correct 126 times. Use a 0.10 significance level to test the claim that touch therapists use a method equivalent to random guesses. Do the results suggest that touch therapists are effective?
Identify the test statistic for this hypothesis test.
Identify The P-value for this hypothesis test
If
P-valueless than or equals≤alphaα,
reject
Upper H 0H0.
If
P-valuegreater than>alphaα,
fail to reject
Upper H 0H0.
Then, use this information to state a final conclusion that addresses the original claim with wording that can be understood by those without knowledge of statistical procedures.
Think about what the test statistic says about whether the proportion observed is low or high.
In: Statistics and Probability
. A sociologist is interested in studying the relationship between education and crime. She randomly selects 312 people and asks them their education level and whether or not they have ever been convicted of a felony. Is there evidence that education level and crime are dependent?
Education Level No Felony Conviction Felony Conviction
Less than 9 years 89 10
9 years - 12 years 78 10
12 years - 16 years 59 6
16+ years 53 7
b. State the null and the alternate hypotheses.
c. State the degrees of freedom and the critical value – use the chi-square chart and a 0.01 level of significance.
d. Use your calculator to determine the test statistic and the p-value.
e. Conclude the test by comparing the test statistic and the critical value.
f. Conclude the test by comparing the p-value and the level of significance.
g. State your conclusion IN CONTEXT.
In: Statistics and Probability
1. What is the longest wavelength of electromagnetic radiation
capable of ionizing a ground state hydrogen atom? Report your
answer in nanometers.
2. Calculate the energy required to ionize a hydrogen atom to an
excited state where the electron is initially in the n = 5
energy level. Report your answer in kilojoules.
3. What is the longest wavelength of electromagnetic radiation capable of ionizing this hydrogen atom in an excited state? Report your answer in nanometers.
In: Chemistry
Research paper on Trade documentation and International Commercial Terms. Five pages maximum. You are to write about the trade documentation (may refer to a myriad of documents) that countries and firms use to engage in international trade. You are to also write about international commercial terms and explain them.
In: Accounting
In section 2.1 you read about how we can model certain situations using linear equations. In particular, example 8 shows how you can create an equation to predict sales of a company
Pick a company whose sales you want to model and predict. Look up their sales information and pick 2 years of data. Using that information, create a linear equation that can be used to predict the sales of the company. Once you have your equation, predict the sales 2 years from now.
Make sure you include in your post the links where you found the relevant information. Clearly show your work. This includes naming the company, sharing the ordered pairs, defining variables, finding the slope, determining the equation, and then using that equation to predict.
In: Math
In: Accounting
1) As mentioned in this chapter, C++ predefined identifiers such as cout and cin can be redefined by the programmer. However, why is it not wise to do so?
2) The text mentioned that the char data type can be cast into an int. What are some possible uses of this functionality?
3) Introduce the C++ data type string, which is a programmer-defined data type available in the C++ library. Define a string as a sequence of zero or more characters.
Please explain in detail.
In: Computer Science
Suppose government puts a tax on investment at rate τ. That is, you get only 1 − τ apple tree next period if you invest one apple this period. Derive the investment demand equation (analog of Equation 4.1 in Lecture 5). What would be the effect of this tax on net exports and real exchange rate in an open economy in long run and very-long run? Explain in detail by showing the changes in the relevant markets.
In: Economics