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In the casino game roulette, the probability of winning
Chapter 5, Problem 10E(choose chapter or problem)
QUESTION:
Problem 10E
In the casino game roulette, the probability of winning with a bet on red is p = 18/38. Let Y equal the number of winning bets out of 1000 independent bets that are placed. Find P(Y > 500), approximately.
Questions & Answers
QUESTION:
Problem 10E
In the casino game roulette, the probability of winning with a bet on red is p = 18/38. Let Y equal the number of winning bets out of 1000 independent bets that are placed. Find P(Y > 500), approximately.
ANSWER:
Step 1 of 5
The number of successes among a fixed number of trials follows a binomial distribution. The binomial distribution can be approximated by the central limit theorem.