If you play roulettes and bet on ‘red’ the probability that you win is 18/38 ≈ .4737 . People often repeat this bet several times. We can consider each time we play a ‘trial’ and consider it a success when we win, so p = 18/38 ≈ . 4737, and q = 20/38 ≈ .5263 . Suppose that Caryl always places the same bet when she plays roulette, $5 on ‘red’. Caryl might play just once, or might play several times. She has a profit (having won $5 more times than she lost $5) if she wins more than half of the games she plays. f) Twenty years ago, we didn’t have the computing power in our hands to easily find the answer to part e) treating this as a binomial, but now your calculator can quickly do the calculations for you. Show your calculator input and answer (to four decimal places) as you use ‘binomcdf(’ to find the probability that Caryl profits when playing 401 times.
If you play roulettes and bet on ‘red’ the
People often repeat this bet several times. We can consider each time we play a ‘trial’ and consider it a
success when we win, so p = 18/38 ≈ . 4737, and q = 20/38 ≈ .5263 .
Suppose that Caryl always places the same bet when she plays roulette, $5 on ‘red’. Caryl might play just
once, or might play several times. She has a profit (having won $5 more times than she lost $5) if she wins
more than half of the games she plays.
f) Twenty years ago, we didn’t have the computing power in our hands to easily find the answer to part e)
treating this as a binomial, but now your calculator can quickly do the calculations for you. Show your
calculator input and answer (to four decimal places) as you use ‘binomcdf(’ to find the probability that
Caryl profits when playing 401 times.
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