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QUESTION 7
A gambler who keeps placing $1 bets on roulette will after a very large number of bets, find that his average winnings per bet are close to $0.94.
The statistical term for the number $0.94 for this bet is:
A. the probability of winning.
B. the bias
C. the expected value.
D. the odds of winning.
E. a random outcome.

Sagot :

MrRoyalidn

The average winning per bet is the mean or the expected value of winning a bet.

The statistical term that represents $0.94 is (c) the expected value

From the question, we understand that the gambler has an average winning of $0.94, when he places a bet of $1

This means that:

The average winning on a bet of $1 is $0.94

Average, in statistics means the mean or expected value

Hence, the statistical term for $0.94 is (c) the expected value

Read more about expected values at:

https://brainly.com/question/14452320

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