A modified roulette wheel has 32 slots. One slot is 0 , another is 00 , and the others are numbered 1 through 30 , respectively. You are placing a bet that the outcome is an odd number. (In roulette, 0 and 00 are neither odd nor even.) a. What is your probability of winning? The probability of winning is
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(Type an integer or a simplified fraction.) b. What are the actual odds against winning? The actusl odds against winning are
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c. When you bet that the outcome is an odd number, the payelf odds are
1:1
. How much proft do you make if you bet
$12
and win? If you wh, the payoff is $
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d. How much profit should you make on the
$12
bet if you could somehow convince the casino to change its payolt odds so that they are the same as the actual odds against winning?
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(Round to the nearest cent as needed.)