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(1 point) Suppose any one round of a gambling game pays 3 to 1 and the odds are 4 to 1 against you. Suppose you
(1 point) Suppose any one round of a gambling game pays 3 to 1 and the odds are 4 to 1 against you. Suppose you will play for 100 rounds and bet one dollar on each round. We want the probability you will come out ahead. Determine what the possible net gains are. (Not all integers from - 100 to 300 are possible.) What is the smallest possible positive net gain? 4 To come out ahead means the total net gain / is strictly greater than 0. Use your work above to apply the continuity correction. P(N > 99.5 What is the chance you will come out ahead? .10565 (Use a normal approximation.)
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