Question

A North American roulette wheel has 38 slots, of which 18 are red, 18 are black, and 2 are green. If you bet on red, the probability of winning is 18/38 = 0.4737. The probability 0.4737 represents A. the fact that you're more likely to win betting on red than you are to lose. B. the proportion of times this event will occur in a very long series of individual bets on red. C. the fact that if you make 100 wagers on red, you'll have 47 or 48 wins. D. nothing important, since every spin of the wheel results in one of three outcomes (red, black, or green).

Answer 1

B. the proportion of times this event will occur in a very long series of individual bets on red.

Explanation:

A is incorrect because you only have 0.4743 chance of winning and 0.5263 chance of losing. So you are NOT more likely to win.

C is incorrect. Although the expected value of winning in 100 games is 47 or 48 games. This isn't certain. It's just likely to happen.

D. is correct in the sense that the result is one of the outcomes. However the 0.4743 chance is still important in assessing risk of losing here.