3 Why you shouldn t gamble too much Remember the previous

Last updated: 3/7/2023

3 Why you shouldn t gamble too much Remember the previous probl so that the casino could make profits Assume p 0 45 and q 0 55 a You visit a casino with 10 dollars and will leave either you reach 20 dollars or lose all you money Compute the probability you win 20 dollars Use a calculator or computing programs such as R Microsoft Excel or Numbers I b Repeat the same problems with different values of p Compute the probabilities below A10 P you reach 20 dollars when you start with 10 dollars P 0 49 0 48 0 47 0 46 0 45 0 44 0 43 0 42 0 41