A man went to atlantic city with 500 and placed 100 bets of, Ask an Expert

Economics

A man went to Atlantic City with $500 and placed 100 bets of $5 each, one after another, on the same number on the roulette wheel. There are 38 numbers on the wheel, and the gaming casino pays 35 times the amount bet if the ball drops into the bettor's numbered slot in the roulette wheel. In addition, the bettor receives back the original $5 bet. Estimate how much money the man is expected to win or lose in Atlantic City.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M92637931

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