Chapter 4-1-fixed slide 8

# Chapter 4-1-fixed slide 8 - Chapter4 ProbabilityPart1 1...

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Chapter 4 Probability – Part 1 1

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Chapter 4 –Probability DSC 205 Basic Probability concepts: Probability – Experiment – Experimental outcome: E - Probability of experimental outcome: P(E) – - Probabilities of all experimental outcomes – 2 Best Odds, Worst Odds Most everyone, from the total beginner on up to the  professional, knows that casinos are an entertainment  business that makes money off of its players. How are new  billion dollar resorts built? From the combined deficit of the  players. Every casino game has an inherent advantage for the  casino known as the "house edge." This percentage  represents how much the casino expects to make from every  betting unit wagered.  References: NY Times www.fastodds.com
Chapter 4 –Probability DSC 205 Let’s roll a normal dice, with face values from 1 to 6: Sample Space – Event – A – We roll a 6 B – We roll an even number C – We don’t roll 1 or 2 P(A) = P(B) = 3

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DSC 205 Tree diagrams to help us identify  sample space Let’s flip a coin three times 4 First flip Second flip  Third flip Outcomes P(Roll 2 Heads) =
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## This note was uploaded on 10/20/2011 for the course DSC 205 taught by Professor Krallman during the Spring '08 term at Miami University.

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Chapter 4-1-fixed slide 8 - Chapter4 ProbabilityPart1 1...

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