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3 (Why you shouldn't gamble too much). Remember the previous probl (so that the casino could make profits). Assume p = 0.45 and q
3 (Why you shouldn't gamble too much). Remember the previous probl (so that the casino could make profits). Assume p = 0.45 and q = 0.55. (a) You visit a casino with 10 dollars and will leave either you reach 20 dollars or lose all you money. Compute the probability you win 20 dollars. (Use a calculator or computing programs. such as R, Microsoft Excel, or Numbers). I (b) Repeat the same problems with different values of p. Compute the probabilities below. P = A10 P(you reach 20 dollars when you start with 10 dollars) 0.49 0.48 0.47 0.46 0.45 0.44 0.43 0.42 0.41
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