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Reinhard
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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).
 one year ago
 one year ago
Reinhard Group Title
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).
 one year ago
 one year ago

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vipergirl81 Group TitleBest ResponseYou've already chosen the best response.1
expected number of times you win is 100 wins is 1 in 6, total 600.
 one year ago

mmpt Group TitleBest ResponseYou've already chosen the best response.0
\[SE=\sqrt(np(1p))\]
 one year ago

vipergirl81 Group TitleBest ResponseYou've already chosen the best response.1
so basically the SE is 9.1287
 one year ago

IsaMad Group TitleBest ResponseYou've already chosen the best response.0
9.1287 is correct
 one year ago

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