Let be the random variable denoting the amount the house wins on the ith bet.
So, Xi = 1 with probability 20/38 and Xi = -1 with probability 18/38.
Let
Now, using central limit theorem,
9. (7 pts) Suppose that in a day, a casino receives 2500 bets on a certain...
(7 pts) Suppose that in a day, a casino receives 2500 bets on a certain color(red or black) on one particular roulette wheel. Each bet is only a dollar bet. The house(casino) has 20 in 38 chances to win. Estimate the chance that the house will win at least 100 dollars. Write your answer as a decimal. Note: In practice, a casino has many roulette wheels and many bets are much more than a dollar. The house always win! HINT:...
(7 pts) Suppose that in a day, a casino receives 2500 bets on a certain color(red or black) on one particular roulette wheel. Each bet is only a dollar bet. The house(casino) has 20 in 38 chances to win. Estimate the chance that the house will win at least 100 dollars. Write your answer as a decimal. Note: In practice, a casino has many roulette wheels and many bets are much more than a dollar. The house always win!
Suppose that in a day, a casino receives 2500 bets on a certain color(red or black) on one particular roulette wheel. Each bet is only a dollar bet. The house(casino) has 20 in 38 chances to win. Estimate the chance that the house will win at least 100 dollars. Write your answer as a decimal. . Note: In practice, a casino has many roulette wheels and many bets are much more than a dollar. The house always win!
Suppose that in a day, a casino receives 2500 bets on a certain color(red or black) on one particular roulette wheel. Each bet is only a dollar bet. The house(casino) has 20 in 38 chances to win. Estimate the chance that the house will win at least 100 dollars. Write your answer as a decimal.Using z score . Note: In practice, a casino has many roulette wheels and many bets are much more than a dollar. The house always win!
Suppose that in a day, a casino receives 2500 bets on a certain color(red or black) on one particular roulette wheel. Each bet is only a dollar bet. The house(casino) has 20 in 38 chances to win. Estimate the chance that the house will win at least 100 dollars. Write your answer as a decimal. Note: In practice, a casino has many roulette wheels and many bets are much more than a dollar. The house always wins! It states the...
Problem Statement: A company intends to offer various versions of roulette game and it wants you to develop a customized object-oriented software solution. This company plans to offer one version 100A now (similar to the simple version in project 2 so refer to it for basic requirements, but it allows multiple players and multiple games) and it is planning to add several more versions in the future. Each game has a minimum and maximum bet and it shall be able...
Can someone do 28, 32, 40, and 44 198 CHAPTER 3 Probability c. Use the results of parts a and b to find ed value of Cash 4 admission to college); the Law School Admissions Test, or LSAT; and the Graduate Record Exam, GRE (used for admission to graduate school). 32. New York's "Pick 10" is a 10/80 lottery Sometimes, these maltiple-choice tests discourage guessing by subtracting points for wrong answers In particular, a correct answer will be worth +1...
Have to show work for every problem 4. A company uses three plants to produce a new computer chip. Plant A produces 30% of the chips. Plant B produces 45% of the chips. The rest of the chips are produced by plant C. Each plant has its own defectiv rate. These are: plant A produces 3% defective chips, plant B produces 1% defective chips, plant C produces 5% defective chips. Hint: draw a tree diagram. (a) Construct a tree diagram...