Question: Show all and clear work Problem 4: (10 points) Before starting to play the roulette in a casino, you want to look for biases that
Show all and clear work

Problem 4: (10 points) Before starting to play the roulette in a casino, you want to look for biases that you can exploit. You therefore watch 100 rounds that result in a number between 1 and 36, and count the number of rounds for which the result is odd. If the count exceeds 55, you decide that the roulette is not fair. Assuming that the roulette is fair, find an approximation for the probability that you will make a wrong decision. Your answer should be in terms of the standard normal CDF
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
