This week, Bob heads to the roulette table. When betting on red, if the spin lands on red then you win the value of the bet, otherwise you win nothing. Bob will use the Martingale strategy: starting with a bet of $1, he will double his bet after each loss, and return his bet to $1 after each win. Bob will bet on red every time. (a) Let Y be the net winnings from playing 3 spins using Strategy B, i) [2] What is the range and pmf of Y ? The probably the roulette wheel will be red is 18/38.
So I found the R(X)=0,1,2,3
and the p(x)=(3CX)*(9/19)^x*(10/19)^x
I am completely slumped with finding the range and pmf of Y.
I think the range of R(Y) might ={-6,-2,0,1,2,3}, (based on the money factored) but I might be wrong.
If anyone can help me answer this question that would be fantastic!
So I found the R(X)=0,1,2,3
and the p(x)=(3CX)*(9/19)^x*(10/19)^x
I am completely slumped with finding the range and pmf of Y.
I think the range of R(Y) might ={-6,-2,0,1,2,3}, (based on the money factored) but I might be wrong.
If anyone can help me answer this question that would be fantastic!
