The probability of winning a game of craps is 0.493. If I play 10,000 games of craps
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The probability of winning a game of craps is 0.493. If I play 10,000 games of craps and bet the same amount on each game, what is the probability that I’m ahead? Begin by determining the mean and standard deviation of the profit in one game of craps. Then use the CLT.
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To determine the mean and standard deviation of the profit in one game of craps we need to consider the possible outcomes of a single game In craps th...View the full answer
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Deepak Sharma
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Related Book For 
Microsoft Excel Data Analysis And Business Modeling
ISBN: 9780137613663
7th Edition
Authors: Wayne Winston
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