AMS 5 Chapter Notes - Chapter 16: Gambling
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19 May 2017
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Chapter 16, #1, 2, 3, 4, 6, 7, 9. A box contains 10,000 tickets: 4,000 [0]s and 6,000 [1]s. and 10,000 draws will be made at random with replacement from this box. Which of the following best describes the situation, and why? (i) The number of 1s will be 6,000 exactly (ii) The number of 1s is very likely to equal 6,000, but there is also some small chance that it will not be equal to 6,000. (iii) Repeat exercise 1 for 10,000 draws made at random without replacement from the box. (i), since there are exactly 6,000 [1]s present in the box and you draw them all. A gambler loses ten times running at roulette. He decides to continue playing because he is due for a win, by the law of averages. A bystander advises him to quit, on the grounds that his luck is cold.
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