AP Stats 5.5 - Random Variables & Expected Value

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Relevant topics: how Vegas casinos make their money, roulette
Statistics topics: discrete random variables, expected value

Music theme: "Something Elated" by Broke For Free
Logo animation by Memie Osuga

Timeline:
0:00 Introduction
1:35 Discrete random variables
3:37 Expected frequency
5:36 Expected value
12:44 Discussion question
  1. Skew The Script
  2. AP Stats
  3. Statistics
  4. Random Variables
  5. Gambling
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Комментарии
Автор

I wouldn't play the game even though the expected value is $133, 333.33, since there is about a 67% chance I could lose and $300, 000 is a lot of money to pay up.

satvikavula
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What was the expected value at the end?

saltedlightly
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Video roulette is actually a worse choice than live roulette. The payout ratios are predetermined. It's just another slot machine

johnhogan