In a large casino, the house wins on its blackjack tables with a probability of 51.1%. all bets at black ack are 1 to 1-if you win, you gain the amount you bet; if you lose, you lose the amount you bet.
a. what is the expected value to you of a single game? what is the house edge?
b. if you played 300 games of blackjack in an evening, betting $5 on each hand, how much should you expect to win or lose?
c. if patrons bet $3,000,000 on blackjack in one evening, how much should the casino expect to earn?