improved by utilizing the probability of equally likely outcomes to predict the

# Improved by utilizing the probability of equally

• 2

This preview shows page 1 - 2 out of 2 pages.

improved by utilizing the probability of equally likely outcomes to predict the next possible outcome. For instance, a slot machine is a gambling machine in a casino that provides a chance of winning a jackpot based on the combination of symbols (Glimne, 2015). Traditionally, the layout of a slot machine consists of three vertical spinning rolls (reels) that are controlled by a lever that charges its customer 1\$ each time it gets pulled, and each roll has several different symbols (stops). In order to win the biggest price on the machine, every machine has its own unique pattern of winning, In Weiss (2017), probability for equally likely outcome would be the best method for calculating the probability of a slot machine. If each reel out of 3 in a slot machine has 10 stops, the total number possible outcomes is 1000 (10 x 10 x 10= 1000). Let’s assume that all the stops in each reel have to be number 7 in order to win the biggest prize, then the chance of getting that specific combination of 777 would be 1 1000 , which is 0.1%. Thus, we know that every 1000 pulls, there will be at least one chance of hitting the winning combination, and the better way to improve chances of winning a slot machine at a casino is to choose carefully on the machine that has been pulled close to 1000 times but yet hits the magic number.

#### You've reached the end of your free preview.

• Fall '09
• KOHN
• slot machine, slot machines, Barboianu

### What students are saying

• As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

Kiran Temple University Fox School of Business ‘17, Course Hero Intern

• I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

Dana University of Pennsylvania ‘17, Course Hero Intern

• The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

Jill Tulane University ‘16, Course Hero Intern