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Question 1- What is the probability of winning a low, even, red, black, odd, or high bet in the game of American roulette? What is the probability of winning a bet placed on any one particular number, e.g., 33? Notice that under American roulette, there are slots on the wheel corresponding to green 0 and green 00 (neither of which qualify under the low bet).

Question 2- What is the expected value of a $1 bet on low, even, red, black, odd, or high in the game of American roulette? Notice the payoff is 1:1 and the expected value is the same for each of these different bets.

Question 3- What is the standard deviation of a $1 bet on low, even, red, black, odd, or high in the game of American roulette? Notice the payoff is 1:1 and the standard deviation is the same for each of these different bets.

Question 4- What is the expected value of a $1 bet on any one particular number, e.g., 33, in the game of American roulette? Notice the payoff is 35:1 for this type of bet.

Question 5- What is the standard deviation of a $1 bet on any one particular number, e.g., 33, in the game of American roulette? Notice the payoff is 35:1 for this type of bet.

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