]> The Roulette Experiment

The Roulette Experiment

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Description

The American roulette wheel has 38 slots numbered 00, 0, and 1-36. Slots 00 and 0 are green. Half of the slots numbered 1-36 are red and half are black. The roulette experiment consists of rolling a ball in a groove in the wheel; the ball eventually falls randomly into one of the 38 slots. The roulette wheel is shown in the left graph panel; the ball is shown on each update.

One of seven different bets can be selected from the list box:

  1. Bet on 1. This is an example of a straight bet, a bet on a single number. The bet pays 35 1 .
  2. Bet on 1, 2. This is an example of a split bet, a bet on 2 numbers. The bet pays 17 1 .
  3. Bet on 1, 2, 3. This is an example of a row bet, a bet on 3 numbers. The bet pays 11 1 .
  4. Bet on 1, 2, 4, 5. This is an example of 4-number bet, and pays 8 1 .
  5. Bet on 1-6. This is an example of a 2-row bet, a bet on 6 numbers. The bet pays 5 1 .
  6. Bet on 1-12. This is an example of a 12-number bet, and pays 2 1 .
  7. Bet on 1-18. This is an example of an 18-number bet, and pays 1 1 .

Random variable X gives the outcome of the experiment and is shown graphically in the first panel and recorded numerically in the data table. Random variable W gives the net winnings for the chosen bet; this variable is recorded in the record table on each update. The probability density function and moments of W are shown in blue in the distribution graph and are recorded in the distribution table. On each update, the empirical density function and moments of W are shown in red in the distribution graph and are recorded in the distribution table.