Question: In addition to slot machines casinos must understand the probabilities

In addition to slot machines, casinos must understand the probabilities involved in card games. Suppose you are playing at the blackjack table, and the dealer shuffles a deck of cards. The first card shown is red. So is the second and the third. In fact, you are surprised to see 5 red cards in a row. You start thinking, “The next one is due to be black!”
a) Are you correct in thinking that there’s a higher probability that the next card will be black than red? Explain.
b) Is this an example of the Law of Large Numbers? Explain.

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  • CreatedMay 14, 2015
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