One strategy is to always bet "red". what is p(red)? define x=#red in 38 spins. what is the probability you'll break even by bet
ting on red-only in 38 spins? that is, what is p(19 red in 38 spins)?
1 answer:
Either you get "red" or you don't. That's binomial. The probability of getting "red" is 1/2, same as the probability of getting "black."
So we have a binomial probability distribution with n=38, p=1/2 and x = 19.
Using the binompdf( function built into my TI-83 calculator, I get
binompdf(38, 1/2, 19) = 0.129 (answer)
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