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Probability Question
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qcan
Feb 1, 2012, 1:09:40 PM2/1/12
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I would just like some confirmation on the following....
- Wager $ 90.00 ( 9 combinations @ $ 10.00 each )
- Probability of winning = 71 % ( in other words, there is a 71 %
chance that one of these 9 combinations will win).
- If win, return will be $ 105.00 + $ 10.00 on inital wager on the one
winning combination.
- 39 % chance of loosing $ 90.00.
I am not a probability expert, but my thought is that over 100 events
if I win exactly 71 times the retrun will be:
71 x $ 115.00 = $ 8165.00 (total retrun on win)
39 x $ 90.00 = $ 3510.00 (complete loss)
61 x $ 80.00 = $ 4880.00 (8 other combinations that loss)
loss = $ 8390.00
Net loss = - $ 225.00
Is my math correct ?
Thanks.
- Wager $ 90.00 ( 9 combinations @ $ 10.00 each )
- Probability of winning = 71 % ( in other words, there is a 71 %
chance that one of these 9 combinations will win).
- If win, return will be $ 105.00 + $ 10.00 on inital wager on the one
winning combination.
- 39 % chance of loosing $ 90.00.
I am not a probability expert, but my thought is that over 100 events
if I win exactly 71 times the retrun will be:
71 x $ 115.00 = $ 8165.00 (total retrun on win)
39 x $ 90.00 = $ 3510.00 (complete loss)
61 x $ 80.00 = $ 4880.00 (8 other combinations that loss)
loss = $ 8390.00
Net loss = - $ 225.00
Is my math correct ?
Thanks.
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