The probability of winning a bet on red in roulette is 0.474. The binomial probability of winning
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The probability of winning a bet on red in roulette is 0.474. The binomial probability of winning money if you play 10 games is 0.31, and drops to 0.27 if you play 100 games. Use a normal approximation to the binomial to estimate your probability of coming out ahead if you play 1,000 times. Justify being able to use a normal approximation for this situation.
Related Book For
Statistics The Art and Science of Learning from Data
ISBN: 978-0321755940
3rd edition
Authors: Alan Agresti, Christine A. Franklin
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