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Homework: Homework Chapter
7 Section C
h
In a large casino, the house wins on its blackjack tables with a probability of 50.4%. All bets at blackjack are 1 to 1, which means that if you win, you gain the amount
you bet, and if you lose, you lose the amount you bet
a. If you bet $1 on each hand, what is the expected value to you of a single game? What is the house edge?
a. The expected value to you of a single game is $ -0.008
(Type an integer or a decimal)
The house edge is $ 0.008
(Type an integer or a decimal)
b. If you played 150 games of blackjack in an evening, betting $1 on each hand, how much should you expect to win or lose?
c. If you played 150 games of blackjack in an evening, betting $5 on each hand, how much should you expect to win or lose?
d. If patrons bet $4,000,000 on blackjack in one evening, how much should the casino expect to earn?
b. You should expect to lose $1.2
(Type an integer or a decimal)
c. You should expect to lose $6.00
(Type an integer or a decimal.)
d. The casino should expect to earn $ 32,000
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Question 3, 7.C.31
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6/28/2022