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Exercise

Exercise 4. American Roulette standard error

The standard error of a random variable \(X\) tells us the difference between a random variable and its expected value. You calculated a random variable \(X\) in exercise 2 and the expected value of that random variable in exercise 3.

Now, compute the standard error of that random variable, which represents a single outcome after one spin of the roulette wheel.

Instructions

100 XP
  • Compute the standard error of the random variable you generated in exercise 2, or the outcome of any one spin of the roulette wheel.
  • Recall that the payout for winning on green is $17 for a $1 bet.