What profit does the casino make on winning bet, Basic Statistics

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What profit does the casino make on winning bet

If a game were "fair." the payoff on a bet would be the same as the odds for the event. In one game, the odds for winning are 1:13. If the game were "fair" what would the payoff be for a $5 bet? Supposing the casino makes the payoff at 1:11odds, what profit does the casino make on your winning bet?

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Basic Statistics: What profit does the casino make on winning bet

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Basic Statistics: What profit does the casino make on winning bet

Reference No:- TGS099668

Have a Question? (oR Write a Review)

Recent Questions Asked Basic Statistics

Q : Describe what happens to the value of the test statistic

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Q : Standpoint of a bank of america manager

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Request for Solution File

Ask an Expert for Answer!!

Basic Statistics: What profit does the casino make on winning bet

Reference No:- TGS099668

Recent Questions Asked Basic Statistics

Q : Describe what happens to the value of the test statistic

Q : What are gold parachutes

Q : Standpoint of a bank of america manager

Q : Operational component of the channel performance

Q : What profit does the casino make on winning bet

Q : Find the required sample size for margin of error

Q : Positive risks and negative risk in your project

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Q : Stages of assessing entrepreneurial opportunities

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