Recall the game of roulette and the casinos fortunes when a player places a red bet. For
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Recall the game of roulette and the casino’s fortunes when a player places a “red” bet. For one $1 red bet, let G be the casino’s gain. Then P(G = 1) = 20/38 and P(G = −1) = 18/38. Suppose in 1 month, one million red bets are placed. Let T be the casino’s total gain. Find P(50, 000 < T < 55, 000).
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By the clt the casinos total gain T has an approxi...View the full answer
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