Unformatted text preview: observed relative frequencies of red, black, and green results will approach the corresponding theoretical probabilities 9 19 , 9 19 ,and 1 19 ⎛ ⎝ ⎜ ⎞ ⎠ ⎟ after many bets. In the long run, on average, the casino will make a profit of about 5.26 cents for every dollar bet by players in red / black bets. We say that the house advantage is 5.26%; see the margin essay “You Bet” on p.140 . How do you maximize your chances of winning a huge amount of money?...
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This note was uploaded on 12/29/2011 for the course MATH 119 taught by Professor Kim during the Fall '09 term at SUNY Stony Brook.
- Fall '09