Maurice Tutor

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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 12 Nov 2017 My Price 5.00

game in casinos

Keno. Keno is a popular game in casinos. Balls numbered 1 to 80 are tumbled in a machine as the bets are placed, then 20 of the balls are chosen at random. Players select numbers by marking a card. Here are two of the simpler Keno bets. Give the expected winnings for each.

(a) A $1 bet on “Mark 1 number” pays $3 if the single number you mark is one of the 20 chosen; otherwise, you lose your dollar

(b) A $1 bet on “Mark 2 numbers” pays $12 if both your numbers are among the 20 chosen. The probability of this is about 0.06. Is Mark 2 a more or a less favorable bet than Mark 1?

 

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Maurice Tutor
(5)
Status NEW Posted 12 Nov 2017 12:11 PM My Price 5.00

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