Problem
An individual uses the following gambling system at las vegas. He bets $1 that the roulette wheel will come up red. If he wins, he quits. If he loses then he makes the same bet a second time only this time he bets $2; and regardless of the outcome, quits. Assuming that he has the probability of 1/2 of winning each bet, what is the probability he goes home a winner? why is the system not used by everyone?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.