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1.Suppose that you and your friend will play a game 400 times. You bet one dollar per game. If you win, you win 6 dollars.
1.Suppose that you and your friend will play a game 400 times. You bet one dollar per game. If you win, you win 6 dollars. If you lose, you lose the dollar. You have a 2 in 11 chance to win.
(a)On average, what is your net gain of playing one game? Round your answer to the nearest cent.
(b) How do you expect to win in 400 games? What is the standard error?
(c) Find the probability that you will win at least $130 in 400 games.
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