A gambling game pays 4 to 1 and the chance of winning is 1 in 6. Suppose you bet $1 on this game 600 times independently.
3A - Find the expected number of times you win.
3B - Find the SE of the number of times you win.
3C - Find the chance that you lose more than $50 (that is, your net gain in the 600 bets is less than -$50).
3 answers
a) 100
135
What is the 135
1 answer