4) You are in Las Vegas and need $35 to buy a great steak dinner, but you only have $20. You decide to play roulette to win the money you need for your dinner. In the simplest bet in roulette, you bet $1 on one of 38 numbers and if your number comes up on the wheel you win $35. If any other number comes up, you lose. a) If you bet $1 on each of 20 different numbers on one single spin of the wheel, what is the probability that you will have $35 after your bet?
Accepted Solution
A:
Answer:The probability that you will have $35 after your bet is 0.5263Step-by-step explanation:Consider the provided information.If you bet $1 on each of 20 different numbers on one single spin of the wheel, what is the probability that you will have $35 after your bet.If you bet $1 on a single number then the probability of winning is:[tex]\frac{1}{38}[/tex]But if you bet $1 on each of 20 different number then the probability increases.Thus the required probability is: [tex]\frac{20}{38}\approx0.5263[/tex]Hence, the probability that you will have $35 after your bet is 0.5263