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

question 6

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

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Definitions:

Real GDP

Measures the value of all goods and services produced by an economy, adjusted for inflation, to reflect the actual economic output.

National Income

The total value of all goods and services produced by a country's economy over a specific period, after adjustments for income from foreign investments and payments to other countries.

Corporate Profits

The excess of revenues over expenses for corporations, indicating the financial health and performance of companies.

Depreciation

A method of allocating the cost of a tangible asset over its useful life.