In a Game of Roulette, Jorge Places 170 Bets of $1

question 66

Multiple Choice

In a game of roulette, Jorge places 170 bets of $1 each on the number 3. A win pays off with odds 35:1 and on any one spin there is a 1/38 probability that 3 will be the winning number. Among the 170 bets, what is the minimum number of wins needed for Jorge to make a profit? Estimate the
Probability that Jorge will make a profit.

• A) 5: 0.4013
• B) 6; 0.2327
• C) 6; 0.3121
• D) 5; 0.496

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Definitions:

Annual Net Cash Flows

The total amount of cash that a company generates or loses over one year, after all expenses and incomes are taken into account.

Depreciated

A reduction in the value of an asset over time, often due to wear and tear or obsolescence, which is accounted for in accounting to spread the cost over its useful life.

Marginal Tax Rate

The marginal tax rate is the rate at which the last dollar of income is taxed, reflecting the rate applied to an individual's or entity's highest level of income.

Marginal Tax Rate

The rate at which the next dollar of taxable income will be taxed.