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Roulette, continued. You decide to play roulette 200 times, each time betting the same amount on red. You will lose money if you win on fewer than 100 of the plays. Based on the information in Exercise 14.26, what is the probability that you will lose money? (Check that the Normal approximation is permissible and use it to find this probability. If your software allows, find the exact binomial probability and compare the two results.) In general, if you bet the same amount on red every time, you will lose money if you win on fewer than half of the plays. What do you think happens to the probability of making money the longer you continue to play? 

          Roulette, continued. You decide to play roulette 200 times, each time betting the same amount on red. You will lose money if you win on fewer than 100 of the plays. Based on the information in Exercise 14.26, what is the probability that you will lose money? (Check that the Normal approximation is permissible and use it to find this probability. If your software allows, find the exact binomial probability and compare the two results.) In general, if you bet the same amount on red every time, you will lose money if you win on fewer than half of the plays. What do you think happens to the probability of making money the longer you continue to play?
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Roulette, continued. You decide to play roulette 200 times, each time betting the same amount on red. You will lose money if you win on fewer than 100 of the plays. Based on the information in Exercise 14.26, what is the probability that you will lose money? (Check that the Normal approximation is permissible and use it to find this probability. If your software allows, find the exact binomial probability and compare the two results.) In general, if you bet the same amount on red every time, you will lose money if you win on fewer than half of the plays. What do you think happens to the probability of making money the longer you continue to play?

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Elementary Statistics a Step by Step Approach
Elementary Statistics a Step by Step Approach
Allan G. Bluman 9th Edition
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Roulette, continued. You decide to play roulette 200 times, each time betting the same amount on red. You will lose money if you win on fewer than 100 of the plays. Based on the information in Exercise 14.26, what is the probability that you will lose money? (Check that the Normal approximation is permissible and use it to find this probability. If your software allows, find the exact binomial probability and compare the two results.) In general, if you bet the same amount on red every time, you will lose money if you win on fewer than half of the plays. What do you think happens to the probability of making money the longer you continue to play?
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Transcript

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00:01 So given that, you decide to play roulette at 200 times each time betting the same amount on red.
00:08 So you will lose money if you win on fewer than 100 of the days.
00:13 So we have and is 200.
00:18 Betting the same amount on red, so probability of winning a single time is 18.
00:27 Oh, sorry, probability of winning single...
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