Math Problem Statement
Solution
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Math Problem Analysis
Mathematical Concepts
Probability
Expected Value
Formulas
P(Red) = 18/38
P(Not Red) = 20/38
Expected Value = P(Red) * (Winnings) + P(Not Red) * (Loss)
Total Expected Winnings = Expected Value per Bet * Number of Bets
Theorems
Law of Expected Value in Probability
Suitable Grade Level
Grade 11-12
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