Section 7C: The Law of Large Numbers


 Susan Porter
 2 years ago
 Views:
Transcription
1 Section 7C: The Law of Large Numbers Example. You flip a coin 00 times. Suppose the coin is fair. How many times would you expect to get heads? tails? One would expect a fair coin to come up heads half the time and tails the other half of the time. So if a coin is being flipped 00 times, one could expect about 00 = 0 heads and about 00 = 0 tails. Suppose the coin is unfair, and the probability of getting heads is 3. How many times would you expect 4 to get heads? tails? One would expect this coin to come up heads threequarters of the time and tails the other quarter of the time. So if this coin is being flipped 00 times, one could expect about = 7 heads and about 4 00 = tails. The Law of Large Numbers (Law of Averages) The law of large numbers applies to a process for which the probability of an event A is P (A) and the results of repeated trials are independent. It states: If the process is repeated over many trials, the proportion of the trials in which event A occurs will be close to the probability P (A). The larger the number of trials, the closer the proportion should be the P (A). Example. You roll a fair sixsided standard die 300 times. How many times would you expect the value to be? Since the probability of getting a on a die roll is 6, one would expect that a would come up about one sixth of the time, or = 0 times. How many times would you expect the value to be odd? The probability of rolling an odd value is 3 6 =, so one would expect to roll an odd value half of the time, or 300 = 0 times. If you want to have the value 4 come up roughly 00 times, how many times should you expect you must roll the die? The probability of rolling a 4 is 6, so to achieve 00 rolls which have a value of 4, we must answer the following question: How many rolls must be made so that one sixth of them is roughly 00? ( 6? = 00) Solving this gives that we would need about 00 rolls to get roughly 00 rolls with a value of 4.
2 Example. You play a game in which you flip a coin. If the coin comes up heads, you receive point. If the coin comes up tails, you receive points. You flip the coin 00 times. How many times would you expect to get heads? tails? As in the last example, one would expect about 00 = 0 heads and 00 = 0 tails. How many points would you expect to win in these 00 flips? Using the information from the previous part, if we expect 0 heads, we will receive 0 = 0 points from the heads. If we expect 0 tails, we will receive 0 = 00 points, making for an expected total of 0 points. Expected Value Consider two events, each with its own value and probability. The expected value is ( ) ( ) ( ) ( event event event event expected value = + value probability value probability ) This formula can be extended to any number of events by including more terms in the sum. Example. Refer to the example above. Find the expected point value of a single coin flip. We can analyze this with a table with three columns: one listing the possible events, one giving the probability of each event, and one giving the value associated to each event. Getting Heads point Getting Tails points Next, we will multiply the probability of each event by their associated value. We then add up those quantities; the result is the expected value. This can be done nicely alongside the table: Getting Heads point point = point Getting Tails points points = point + = 3 =. points So the expected value of a single coin flip is. points. Use this to compute the expected point total for 00 flips. Multiply the expected value by the number of trials to get the expected value afterward:. 00 = 0 points. Notice this is the same as we computed earlier in the problem. How many points can you expect after 00 flips? 000 flips? We can repeat the previous method to get an expected value of. 00 = 300 points after 00 flips and. 000 = 00 points after 000 flips.
3 Example. A lottery for a particular state costs $ and has the payouts and probabilities listed below: Prize Probability $,000,000 8,00,000 $0,000 00,000 $00 0,000 $ Find the expected value for the payout of a single lottery ticket. We will multiply each event s probability by its value, then add those quantities: Prize Probability $,000,000 8,00,000 $, 000, 000 8,00,000 = 37 $0.0 $0,000 00,000 $0, ,000 = $0.0 $00 0,000 $00 0,000 = $0.0 $ $ = $0.0 $, 000, 000 8,00,000 + $0, ,000 + $00 0,000 + $ = $0.8 So the expected value of the return of a lottery ticket is $0.8. (Note, however, that you must spend $ in order to get any return.) What is the expected winnings if you purchase one ticket every day for a year? If you play 36 times, your expected winnings would be $ $0.0. What is your net gain in that year? In that year, a total of $36 was spent while earning only $0.0, so the net gain is $0.0 (amount gained) $36 (amount spent) = $6.80 There is a net loss of $6.80 by playing the lottery in this manner for a full year. 3
4 Gambler s Fallacy The gambler s fallacy is the mistaken belief that a streak of bad luck makes a person due for a streak of good luck. Example. You play a game by flipping a coin. You receive $ for each head and you lose $ for each tail. After 00 flips, say you have 40 heads and 60 tails. What is your net gain thus far in the game? You won $40 from the heads and lost $60 from the tails, so there is a net gain of $60, or a net loss of $60. What is the empirical probability of getting heads based on your first 00 flips? Based on these 00 flips, the empirical probability of getting heads is = = 0.4. Now, suppose you play another 00 times (for a total of 00 times) and get 4 heads and tails. What is your net gain after all 00 flips? Now, we have a total of 8 heads and tails. So we won $8 and lost $, making for a net gain of $8 $ = $30, or a net loss of $30. What is the empirical probability of getting heads based on these 00 flips? Based on these 00 flips, the empirical probability of getting heads is 8 00 = 0.4. Does this result agree with the Law of Large Numbers? This seems counterintuitive, because even though the probability of getting heads is getting closer to half (as one would expect), the loss in playing the game is getting larger. This is the mistake many make when quoting the law of large numbers. All this law tells you is that after time, the empirical probability should get close to the theoretical probability. It does not, however, ensure that losses will be recouped in any way. In fact, it is possible for the losses to get arbitrarily large if you play the game long enough. 4
5 Example. An American roulette table has a wheel with slots. The wheel is spun and a ball is released. Players bet on in which of the slots the ball with finally land. There are 8 black slots, 8 red slots, and green slots. What is the probability of getting red on a roulette spin? There are 8 red spots on the roulette wheel out of a total of spots. probability of landing on red is 8 = Assuming they are all equally likely, the If you make a bet on red and the ball lands in a red slot, you get back your bet doubled. What is the expected value of your return if you bet $0 on red? There are two outcomes worth noting when you are betting on red, and those are landing on red and not landing on red. As indicated in the previous question, there is a 8 probability that you will land on red. Therefore, there is a 8 = 0 probability of not landing on red. If you land on red, you will make $0, and if you do not, you earn nothing back. We can make a table for these events with their probabilities and values, then compute the expected value from there: 8 8 Landing on Red $0 $0 $ Not Landing on Red $0 $0 = $0 8 0 $0 + $0 $9.47 Therefore, the expected winnings on one spin is $9.47. (Note that you must pay $0 to spin, so there is a net loss of $0.3 on each spin!) What would be your expected winnings if you played 0 times? Multiply the expected winnings for one spin ($9.47) by 0 to get your total winnings: $ = $ What is your net gain (or loss) after playing 0 times? 00 times? It costs 0 $0 = $00 to play roulette 0 times, so the net gain is $00 = $6.0. Note that we could have found this by taking the expected value with the cost of the spin ($ , make sure to retain as many digits as possible) and multiply it by 0. Similarly, we can take the net expected value and multiply it by 00 to get a net loss of $ = $.63 after playing 00 times. What is the moral of the story? The house always wins in the long run.
Expected Value. 24 February 2014. Expected Value 24 February 2014 1/19
Expected Value 24 February 2014 Expected Value 24 February 2014 1/19 This week we discuss the notion of expected value and how it applies to probability situations, including the various New Mexico Lottery
More informationElementary Statistics and Inference. Elementary Statistics and Inference. 16 The Law of Averages (cont.) 22S:025 or 7P:025.
Elementary Statistics and Inference 22S:025 or 7P:025 Lecture 20 1 Elementary Statistics and Inference 22S:025 or 7P:025 Chapter 16 (cont.) 2 D. Making a Box Model Key Questions regarding box What numbers
More informationThe overall size of these chance errors is measured by their RMS HALF THE NUMBER OF TOSSES NUMBER OF HEADS MINUS 0 400 800 1200 1600 NUMBER OF TOSSES
INTRODUCTION TO CHANCE VARIABILITY WHAT DOES THE LAW OF AVERAGES SAY? 4 coins were tossed 1600 times each, and the chance error number of heads half the number of tosses was plotted against the number
More informationProbability and Expected Value
Probability and Expected Value This handout provides an introduction to probability and expected value. Some of you may already be familiar with some of these topics. Probability and expected value are
More informationIntroduction to Discrete Probability. Terminology. Probability definition. 22c:19, section 6.x Hantao Zhang
Introduction to Discrete Probability 22c:19, section 6.x Hantao Zhang 1 Terminology Experiment A repeatable procedure that yields one of a given set of outcomes Rolling a die, for example Sample space
More information36 Odds, Expected Value, and Conditional Probability
36 Odds, Expected Value, and Conditional Probability What s the difference between probabilities and odds? To answer this question, let s consider a game that involves rolling a die. If one gets the face
More information6.3 Probabilities with Large Numbers
6.3 Probabilities with Large Numbers In general, we can t perfectly predict any single outcome when there are numerous things that could happen. But, when we repeatedly observe many observations, we expect
More informationV. RANDOM VARIABLES, PROBABILITY DISTRIBUTIONS, EXPECTED VALUE
V. RANDOM VARIABLES, PROBABILITY DISTRIBUTIONS, EXPETED VALUE A game of chance featured at an amusement park is played as follows: You pay $ to play. A penny and a nickel are flipped. You win $ if either
More informationWeek 5: Expected value and Betting systems
Week 5: Expected value and Betting systems Random variable A random variable represents a measurement in a random experiment. We usually denote random variable with capital letter X, Y,. If S is the sample
More informationChapter 16: law of averages
Chapter 16: law of averages Context................................................................... 2 Law of averages 3 Coin tossing experiment......................................................
More informationMA 1125 Lecture 14  Expected Values. Friday, February 28, 2014. Objectives: Introduce expected values.
MA 5 Lecture 4  Expected Values Friday, February 2, 24. Objectives: Introduce expected values.. Means, Variances, and Standard Deviations of Probability Distributions Two classes ago, we computed the
More informationBetting systems: how not to lose your money gambling
Betting systems: how not to lose your money gambling G. Berkolaiko Department of Mathematics Texas A&M University 28 April 2007 / Mini Fair, Math Awareness Month 2007 Gambling and Games of Chance Simple
More information3.2 Roulette and Markov Chains
238 CHAPTER 3. DISCRETE DYNAMICAL SYSTEMS WITH MANY VARIABLES 3.2 Roulette and Markov Chains In this section we will be discussing an application of systems of recursion equations called Markov Chains.
More informationWe rst consider the game from the player's point of view: Suppose you have picked a number and placed your bet. The probability of winning is
Roulette: On an American roulette wheel here are 38 compartments where the ball can land. They are numbered 136, and there are two compartments labeled 0 and 00. Half of the compartments numbered 136
More informationProbability: The Study of Randomness Randomness and Probability Models. IPS Chapters 4 Sections 4.1 4.2
Probability: The Study of Randomness Randomness and Probability Models IPS Chapters 4 Sections 4.1 4.2 Chapter 4 Overview Key Concepts Random Experiment/Process Sample Space Events Probability Models Probability
More informationStatistics 100A Homework 3 Solutions
Chapter Statistics 00A Homework Solutions Ryan Rosario. Two balls are chosen randomly from an urn containing 8 white, black, and orange balls. Suppose that we win $ for each black ball selected and we
More informationChapter 16. Law of averages. Chance. Example 1: rolling two dice Sum of draws. Setting up a. Example 2: American roulette. Summary.
Overview Box Part V Variability The Averages Box We will look at various chance : Tossing coins, rolling, playing Sampling voters We will use something called s to analyze these. Box s help to translate
More informationExpected Value and the Game of Craps
Expected Value and the Game of Craps Blake Thornton Craps is a gambling game found in most casinos based on rolling two six sided dice. Most players who walk into a casino and try to play craps for the
More informationIn the situations that we will encounter, we may generally calculate the probability of an event
What does it mean for something to be random? An event is called random if the process which produces the outcome is sufficiently complicated that we are unable to predict the precise result and are instead
More informationLecture 13. Understanding Probability and LongTerm Expectations
Lecture 13 Understanding Probability and LongTerm Expectations Thinking Challenge What s the probability of getting a head on the toss of a single fair coin? Use a scale from 0 (no way) to 1 (sure thing).
More informationThe Casino Lab STATION 1: CRAPS
The Casino Lab Casinos rely on the laws of probability and expected values of random variables to guarantee them profits on a daily basis. Some individuals will walk away very wealthy, while others will
More informationElementary Statistics and Inference. Elementary Statistics and Inference. 17 Expected Value and Standard Error. 22S:025 or 7P:025.
Elementary Statistics and Inference S:05 or 7P:05 Lecture Elementary Statistics and Inference S:05 or 7P:05 Chapter 7 A. The Expected Value In a chance process (probability experiment) the outcomes of
More informationSlide 1 Math 1520, Lecture 23. This lecture covers mean, median, mode, odds, and expected value.
Slide 1 Math 1520, Lecture 23 This lecture covers mean, median, mode, odds, and expected value. Slide 2 Mean, Median and Mode Mean, Median and mode are 3 concepts used to get a sense of the central tendencies
More informationMULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question.
Practice Test Chapter 9 Name MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. Find the odds. ) Two dice are rolled. What are the odds against a sum
More informationPractical Probability:
Practical Probability: Casino Odds and Sucker Bets Tom Davis tomrdavis@earthlink.net April 2, 2011 Abstract Gambling casinos are there to make money, so in almost every instance, the games you can bet
More informationYou can place bets on the Roulette table until the dealer announces, No more bets.
Roulette Roulette is one of the oldest and most famous casino games. Every Roulette table has its own set of distinctive chips that can only be used at that particular table. These chips are purchased
More informationAP Statistics 7!3! 6!
Lesson 64 Introduction to Binomial Distributions Factorials 3!= Definition: n! = n( n 1)( n 2)...(3)(2)(1), n 0 Note: 0! = 1 (by definition) Ex. #1 Evaluate: a) 5! b) 3!(4!) c) 7!3! 6! d) 22! 21! 20!
More information13.0 Central Limit Theorem
13.0 Central Limit Theorem Discuss Midterm/Answer Questions Box Models Expected Value and Standard Error Central Limit Theorem 1 13.1 Box Models A Box Model describes a process in terms of making repeated
More informationIntroductory Probability. MATH 107: Finite Mathematics University of Louisville. March 5, 2014
Introductory Probability MATH 07: Finite Mathematics University of Louisville March 5, 204 What is probability? Counting and probability 2 / 3 Probability in our daily lives We see chances, odds, and probabilities
More information(SEE IF YOU KNOW THE TRUTH ABOUT GAMBLING)
(SEE IF YOU KNOW THE TRUTH ABOUT GAMBLING) Casinos loosen the slot machines at the entrance to attract players. FACT: This is an urban myth. All modern slot machines are stateoftheart and controlled
More informationAMS 5 CHANCE VARIABILITY
AMS 5 CHANCE VARIABILITY The Law of Averages When tossing a fair coin the chances of tails and heads are the same: 50% and 50%. So if the coin is tossed a large number of times, the number of heads and
More informationBetting on Excel to enliven the teaching of probability
Betting on Excel to enliven the teaching of probability Stephen R. Clarke School of Mathematical Sciences Swinburne University of Technology Abstract The study of probability has its roots in gambling
More informationThat s Not Fair! ASSESSMENT #HSMA20. Benchmark Grades: 912
That s Not Fair! ASSESSMENT # Benchmark Grades: 912 Summary: Students consider the difference between fair and unfair games, using probability to analyze games. The probability will be used to find ways
More informationBasic Probability Theory II
RECAP Basic Probability heory II Dr. om Ilvento FREC 408 We said the approach to establishing probabilities for events is to Define the experiment List the sample points Assign probabilities to the sample
More informationStandard 12: The student will explain and evaluate the financial impact and consequences of gambling.
STUDENT MODULE 12.1 GAMBLING PAGE 1 Standard 12: The student will explain and evaluate the financial impact and consequences of gambling. Risky Business Simone, Paula, and Randy meet in the library every
More informationExample: Find the expected value of the random variable X. X 2 4 6 7 P(X) 0.3 0.2 0.1 0.4
MATH 110 Test Three Outline of Test Material EXPECTED VALUE (8.5) Super easy ones (when the PDF is already given to you as a table and all you need to do is multiply down the columns and add across) Example:
More informationThe New Mexico Lottery
The New Mexico Lottery 26 February 2014 Lotteries 26 February 2014 1/27 Today we will discuss the various New Mexico Lottery games and look at odds of winning and the expected value of playing the various
More informationSolutions: Problems for Chapter 3. Solutions: Problems for Chapter 3
Problem A: You are dealt five cards from a standard deck. Are you more likely to be dealt two pairs or three of a kind? experiment: choose 5 cards at random from a standard deck Ω = {5combinations of
More informationTHE WINNING ROULETTE SYSTEM by http://www.webgoldminer.com/
THE WINNING ROULETTE SYSTEM by http://www.webgoldminer.com/ Is it possible to earn money from online gambling? Are there any 100% sure winning roulette systems? Are there actually people who make a living
More informationCh. 13.2: Mathematical Expectation
Ch. 13.2: Mathematical Expectation Random Variables Very often, we are interested in sample spaces in which the outcomes are distinct real numbers. For example, in the experiment of rolling two dice, we
More informationProbability. Sample space: all the possible outcomes of a probability experiment, i.e., the population of outcomes
Probability Basic Concepts: Probability experiment: process that leads to welldefined results, called outcomes Outcome: result of a single trial of a probability experiment (a datum) Sample space: all
More informationStatistics and Random Variables. Math 425 Introduction to Probability Lecture 14. Finite valued Random Variables. Expectation defined
Expectation Statistics and Random Variables Math 425 Introduction to Probability Lecture 4 Kenneth Harris kaharri@umich.edu Department of Mathematics University of Michigan February 9, 2009 When a large
More informationAutomatic Bet Tracker!
Russell Hunter Street Smart Roulette Automatic Bet Tracker! Russell Hunter Publishing, Inc. Street Smart Roulette Automatic Bet Tracker 2015 Russell Hunter and Russell Hunter Publishing, Inc. All Rights
More informationChapter 5 Section 2 day 1 2014f.notebook. November 17, 2014. Honors Statistics
Chapter 5 Section 2 day 1 2014f.notebook November 17, 2014 Honors Statistics Monday November 17, 2014 1 1. Welcome to class Daily Agenda 2. Please find folder and take your seat. 3. Review Homework C5#3
More informationLaw of Large Numbers. Alexandra Barbato and Craig O Connell. Honors 391A Mathematical Gems Jenia Tevelev
Law of Large Numbers Alexandra Barbato and Craig O Connell Honors 391A Mathematical Gems Jenia Tevelev Jacob Bernoulli Life of Jacob Bernoulli Born into a family of important citizens in Basel, Switzerland
More informationProbability QUESTIONS Principles of Math 12  Probability Practice Exam 1 www.math12.com
Probability QUESTIONS Principles of Math  Probability Practice Exam www.math.com Principles of Math : Probability Practice Exam Use this sheet to record your answers:... 4... 4... 4.. 6. 4.. 6. 7..
More informationChapter 4 Lecture Notes
Chapter 4 Lecture Notes Random Variables October 27, 2015 1 Section 4.1 Random Variables A random variable is typically a realvalued function defined on the sample space of some experiment. For instance,
More informationUnit 19: Probability Models
Unit 19: Probability Models Summary of Video Probability is the language of uncertainty. Using statistics, we can better predict the outcomes of random phenomena over the long term from the very complex,
More informationSecond Midterm Exam (MATH1070 Spring 2012)
Second Midterm Exam (MATH1070 Spring 2012) Instructions: This is a one hour exam. You can use a notecard. Calculators are allowed, but other electronics are prohibited. 1. [60pts] Multiple Choice Problems
More informationMrMajik s Money Management Strategy Copyright MrMajik.com 2003 All rights reserved.
You are about to learn the very best method there is to beat an evenmoney bet ever devised. This works on almost any game that pays you an equal amount of your wager every time you win. Casino games are
More informationStandard 12: The student will explain and evaluate the financial impact and consequences of gambling.
TEACHER GUIDE 12.1 GAMBLING PAGE 1 Standard 12: The student will explain and evaluate the financial impact and consequences of gambling. Risky Business Priority Academic Student Skills Personal Financial
More informationCh. 13.3: More about Probability
Ch. 13.3: More about Probability Complementary Probabilities Given any event, E, of some sample space, U, of a random experiment, we can always talk about the complement, E, of that event: this is the
More informationROULETTE. APEX gaming technology 20140407
ROULETTE APEX gaming technology 20140407 Version History Version Date Author(s) Changes 1.0 20140217 AG First draft 1.1 20140407 AG New Infoscreens List of Authors Andreas Grabner ii 1 Introduction
More informationLesson 13: Games of Chance and Expected Value
Student Outcomes Students analyze simple games of chance. Students calculate expected payoff for simple games of chance. Students interpret expected payoff in context. esson Notes When students are presented
More informationStatistics 100A Homework 4 Solutions
Chapter 4 Statistics 00A Homework 4 Solutions Ryan Rosario 39. A ball is drawn from an urn containing 3 white and 3 black balls. After the ball is drawn, it is then replaced and another ball is drawn.
More informationMidterm Exam #1 Instructions:
Public Affairs 818 Professor: Geoffrey L. Wallace October 9 th, 008 Midterm Exam #1 Instructions: You have 10 minutes to complete the examination and there are 6 questions worth a total of 10 points. The
More informationMathematical Expectation
Mathematical Expectation Properties of Mathematical Expectation I The concept of mathematical expectation arose in connection with games of chance. In its simplest form, mathematical expectation is the
More informationMOVIES, GAMBLING, SECRET CODES, JUST MATRIX MAGIC
MOVIES, GAMBLING, SECRET CODES, JUST MATRIX MAGIC DR. LESZEK GAWARECKI 1. The Cartesian Coordinate System In the Cartesian system points are defined by giving their coordinates. Plot the following points:
More information2. How many ways can the letters in PHOENIX be rearranged? 7! = 5,040 ways.
Math 142 September 27, 2011 1. How many ways can 9 people be arranged in order? 9! = 362,880 ways 2. How many ways can the letters in PHOENIX be rearranged? 7! = 5,040 ways. 3. The letters in MATH are
More informationAn Unconvered Roulette Secret designed to expose any Casino and make YOU MONEY spin after spin! Even in the LONG Run...
An Unconvered Roulette Secret designed to expose any Casino and make YOU MONEY spin after spin! Even in the LONG Run... The UNFAIR Casino advantage put BACK into the HANDS of every Roulette player! INTRODUCTION...2
More informationThe Math. P (x) = 5! = 1 2 3 4 5 = 120.
The Math Suppose there are n experiments, and the probability that someone gets the right answer on any given experiment is p. So in the first example above, n = 5 and p = 0.2. Let X be the number of correct
More informationBeating Roulette? An analysis with probability and statistics.
The Mathematician s Wastebasket Volume 1, Issue 4 Stephen Devereaux April 28, 2013 Beating Roulette? An analysis with probability and statistics. Every time I watch the film 21, I feel like I ve made the
More information6.042/18.062J Mathematics for Computer Science. Expected Value I
6.42/8.62J Mathematics for Computer Science Srini Devadas and Eric Lehman May 3, 25 Lecture otes Expected Value I The expectation or expected value of a random variable is a single number that tells you
More informationPROBABILITY C A S I N O L A B
A P S T A T S A Fabulous PROBABILITY C A S I N O L A B AP Statistics Casino Lab 1 AP STATISTICS CASINO LAB: INSTRUCTIONS The purpose of this lab is to allow you to explore the rules of probability in the
More informationREWARD System For Even Money Bet in Roulette By Izak Matatya
REWARD System For Even Money Bet in Roulette By Izak Matatya By even money betting we mean betting on Red or Black, High or Low, Even or Odd, because they pay 1 to 1. With the exception of the green zeros,
More informationHow To Increase Your Odds Of Winning ScratchOff Lottery Tickets!
How To Increase Your Odds Of Winning ScratchOff Lottery Tickets! Disclaimer: All of the information inside this report reflects my own personal opinion and my own personal experiences. I am in NO way
More informationMONEY MANAGEMENT. Guy Bower delves into a topic every trader should endeavour to master  money management.
MONEY MANAGEMENT Guy Bower delves into a topic every trader should endeavour to master  money management. Many of us have read Jack Schwager s Market Wizards books at least once. As you may recall it
More informationIntroduction and Overview
Introduction and Overview Probability and Statistics is a topic that is quickly growing, has become a major part of our educational program, and has a substantial role in the NCTM Standards. While covering
More informationSTRIKE FORCE ROULETTE
STRIKE FORCE ROULETTE Cycles, cycles, cycles... You cannot get away from them in the game of Roulette. Red, black, red, black... Red, red, red, red. Black, black, black... Red, red, black, black... 1st
More informationTABLE OF CONTENTS. ROULETTE FREE System #1  2 ROULETTE FREE System #2  4  5
IMPORTANT: This document contains 100% FREE gambling systems designed specifically for ROULETTE, and any casino game that involves even money bets such as BLACKJACK, CRAPS & POKER. Please note although
More informationLotto Master Formula (v1.3) The Formula Used By Lottery Winners
Lotto Master Formula (v.) The Formula Used By Lottery Winners I. Introduction This book is designed to provide you with all of the knowledge that you will need to be a consistent winner in your local lottery
More informationThe game of roulette is played by throwing a small ball onto a rotating wheel with thirty seven numbered sectors.
LIVE ROULETTE The game of roulette is played by throwing a small ball onto a rotating wheel with thirty seven numbered sectors. The ball stops on one of these sectors. The aim of roulette is to predict
More informationMidterm Exam #1 Instructions:
Public Affairs 818 Professor: Geoffrey L. Wallace October 9 th, 008 Midterm Exam #1 Instructions: You have 10 minutes to complete the examination and there are 6 questions worth a total of 10 points. The
More informationHow to Beat Online Roulette!
Martin J. Silverthorne How to Beat Online Roulette! Silverthorne Publications, Inc. How to Beat Online Roulette! COPYRIGHT 2015 Silverthorne Publications Inc. All rights reserved. Except for brief passages
More informationJohn Kerrich s cointossing Experiment. Law of Averages  pg. 294 Moore s Text
Law of Averages  pg. 294 Moore s Text When tossing a fair coin the chances of tails and heads are the same: 50% and 50%. So, if the coin is tossed a large number of times, the number of heads and the
More informationMONT 107N Understanding Randomness Solutions For Final Examination May 11, 2010
MONT 07N Understanding Randomness Solutions For Final Examination May, 00 Short Answer (a) (0) How are the EV and SE for the sum of n draws with replacement from a box computed? Solution: The EV is n times
More informationcalculating probabilities
4 calculating probabilities Taking Chances What s the probability he s remembered I m allergic to nonprecious metals? Life is full of uncertainty. Sometimes it can be impossible to say what will happen
More informationHow to Win At Online Roulette
How to Win At Online Roulette 2 nd Edition Samuel Blankson How To Win At Online Roulette, 2 nd Edition Copyright 2006, by Samuel Blankson. All rights reserved including the right to reproduce this book,
More informationSection 6.1 Discrete Random variables Probability Distribution
Section 6.1 Discrete Random variables Probability Distribution Definitions a) Random variable is a variable whose values are determined by chance. b) Discrete Probability distribution consists of the values
More informationMath 58. Rumbos Fall 2008 1. Solutions to Review Problems for Exam 2
Math 58. Rumbos Fall 2008 1 Solutions to Review Problems for Exam 2 1. For each of the following scenarios, determine whether the binomial distribution is the appropriate distribution for the random variable
More informationThis Method will show you exactly how you can profit from this specific online casino and beat them at their own game.
This Method will show you exactly how you can profit from this specific online casino and beat them at their own game. It s NOT complicated, and you DON T need a degree in mathematics or statistics to
More informationThursday, November 13: 6.1 Discrete Random Variables
Thursday, November 13: 6.1 Discrete Random Variables Read 347 350 What is a random variable? Give some examples. What is a probability distribution? What is a discrete random variable? Give some examples.
More informationSession 8 Probability
Key Terms for This Session Session 8 Probability Previously Introduced frequency New in This Session binomial experiment binomial probability model experimental probability mathematical probability outcome
More information! Insurance and Gambling
2009818 0 Insurance and Gambling Eric Hehner Gambling works as follows. You pay some money to the house. Then a random event is observed; it may be the roll of some dice, the draw of some cards, or the
More informationRules of core casino games in Great Britain
Rules of core casino games in Great Britain June 2011 Contents 1 Introduction 3 2 American Roulette 4 3 Blackjack 5 4 Punto Banco 7 5 Three Card Poker 9 6 Dice/Craps 11 2 1 Introduction 1.1 This document
More informationCASINO GAMING AMENDMENT RULE (No. 1) 2002
Queensland Subordinate Legislation 2002 No. 100 Casino Control Act 1982 CASINO GAMING AMENDMENT RULE (No. 1) 2002 TABLE OF PROVISIONS Section Page 1 Short title....................................................
More informationECE 316 Probability Theory and Random Processes
ECE 316 Probability Theory and Random Processes Chapter 4 Solutions (Part 2) Xinxin Fan Problems 20. A gambling book recommends the following winning strategy for the game of roulette. It recommends that
More informationLab 11. Simulations. The Concept
Lab 11 Simulations In this lab you ll learn how to create simulations to provide approximate answers to probability questions. We ll make use of a particular kind of structure, called a box model, that
More information4.19 What s wrong? Solution 4.25 Distribution of blood types. Solution:
4.19 What s wrong? In each of the following scenarios, there is something wrong. Describe what is wrong and give a reason for your answer. a) If two events are disjoint, we can multiply their probabilities
More informationNote: To increase your bet by another amount, select another chip from the bottom right of the game panel.
Roulette Advanced Image not readable or empty Roulette /images/uploads/gamedesc/netentrouletteadvenced2.jpg Advanced Roulette Advanced Game Rules Welcome to Roulette Advanced! Information about the
More informationLesson 1. Basics of Probability. Principles of Mathematics 12: Explained! www.math12.com 314
Lesson 1 Basics of Probability www.math12.com 314 Sample Spaces: Probability Lesson 1 Part I: Basic Elements of Probability Consider the following situation: A six sided die is rolled The sample space
More informationChapter 4 & 5 practice set. The actual exam is not multiple choice nor does it contain like questions.
Chapter 4 & 5 practice set. The actual exam is not multiple choice nor does it contain like questions. MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question.
More informationThe Mathematics of Gambling
The Mathematics of Gambling with Related Applications Madhu Advani Stanford University April 12, 2014 Madhu Advani (Stanford University) Mathematics of Gambling April 12, 2014 1 / 23 Gambling Gambling:
More informationOrange High School. Year 7, 2015. Mathematics Assignment 2
Full name: Class teacher: Due date: Orange High School Year 7, 05 Mathematics Assignment Instructions All work must be your own. You are encouraged to use the internet but you need to rewrite your findings
More informationQuiz CHAPTER 16 NAME: UNDERSTANDING PROBABILITY AND LONG TERM EXPECTATIONS
Quiz CHAPTER 16 NAME: UNDERSTANDING PROBABILITY AND LONG TERM EXPECTATIONS 1. Give two examples of ways that we speak about probability in our every day lives. NY REASONABLE ANSWER OK. EXAMPLES: 1) WHAT
More informationStat 20: Intro to Probability and Statistics
Stat 20: Intro to Probability and Statistics Lecture 16: More Box Models Tessa L. ChildersDay UC Berkeley 22 July 2014 By the end of this lecture... You will be able to: Determine what we expect the sum
More informationSUBCHAPTER 5. ROULETTE AND BIG SIX WHEELS
SUBCHAPTER 5. ROULETTE AND BIG SIX WHEELS 19:475.1 Roulette: placement of wagers; permissible and optional wagers 19:475.2 Roulette: payout odds 19:475.3 Roulette: rotation of wheel and ball 19:475.4
More informationWeek 2: Conditional Probability and Bayes formula
Week 2: Conditional Probability and Bayes formula We ask the following question: suppose we know that a certain event B has occurred. How does this impact the probability of some other A. This question
More informationFormula for Theoretical Probability
Notes Name: Date: Period: Probability I. Probability A. Vocabulary is the chance/ likelihood of some event occurring. Ex) The probability of rolling a for a sixfaced die is 6. It is read as in 6 or out
More informationThe Normal Approximation to Probability Histograms. Dice: Throw a single die twice. The Probability Histogram: Area = Probability. Where are we going?
The Normal Approximation to Probability Histograms Where are we going? Probability histograms The normal approximation to binomial histograms The normal approximation to probability histograms of sums
More information