Question 1What 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 2What 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 3What 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 4What 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 5What 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.