Question

In a Las Vegas casino, gamblers lose a mean of on each roulette game, with a standard deviation of . (Since the standard deviation is quite high with respect to the mean, roulette players often win money on a bet.) Suppose a gambler plays roulette for bets straight. What is the probability that he will be winning after bets

Answer 1

Answer: Hello your question is poorly written attached below is the complete question

answer:

0.1515

Step-by-step explanation:

Number of bets = 200

mean number of losses  = $0.2

Standard deviation = $2.74

Determine P ( winning after 200 bets )

Average of 200 bets > 0.  i.e. P( X > 0 )

considering normal distribution : μ = -0.2 , б = 2.74 , n = 200

applying Z - distribution

z = 0 - ( - 0.2 ) / ( 2.74 / √200 ) ≈ 1.03

∴ P ( z > 1.03 ) = 1 - P ( z < 1.03 )

                       = 1 - 0.8485  ( value gotten from z-table )

                       = 0.1515