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Reinhard
 2 years ago
A gambling game pays 4 to 1 and the chance of winning is 1 in 6. Suppose you bet $1 on this game 600 times independently.
Find the expected number of times you win.
Find the SE of the number of times you win.
Find the chance that you lose more than $50 (that is, your net gain in the 600 bets is less than $50).
Reinhard
 2 years ago
A gambling game pays 4 to 1 and the chance of winning is 1 in 6. Suppose you bet $1 on this game 600 times independently. Find the expected number of times you win. Find the SE of the number of times you win. Find the chance that you lose more than $50 (that is, your net gain in the 600 bets is less than $50).

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vipergirl81
 2 years ago
Best ResponseYou've already chosen the best response.1expected number of times you win is 100 wins is 1 in 6, total 600.

vipergirl81
 2 years ago
Best ResponseYou've already chosen the best response.1so basically the SE is 9.1287

Reinhard
 2 years ago
Best ResponseYou've already chosen the best response.0Find the chance that you lose more than $50 (that is, your net gain in the 600 bets is less than $50).
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