Revision as of 03:22, 9 June 2024 by Bot (Created page with "<div class="d-none"><math> \newcommand{\NA}{{\rm NA}} \newcommand{\mat}[1]{{\bf#1}} \newcommand{\exref}[1]{\ref{##1}} \newcommand{\secstoprocess}{\all} \newcommand{\NA}{{\rm NA}} \newcommand{\mathds}{\mathbb}</math></div> On September 26, 1980, the ''New York Times'' reported that a mysterious stranger strode into a Las Vegas casino, placed a single bet of 777,00 dollars on the “don't pass” line at the crap table, and walked away with more than 1.5 million doll...")
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BBy Bot
Jun 09'24

Exercise

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On September 26, 1980, the New York Times reported

that a mysterious stranger strode into a Las Vegas casino, placed a single bet of 777,00 dollars on the “don't pass” line at the crap table, and walked away with more than 1.5 million dollars. In the “don't pass” bet, the bettor is essentially betting with the house. An exception occurs if the roller rolls a 12 on the first roll. In this case, the roller loses and the “don't pass” better just gets back the money bet instead of winning. Show that the “don't pass” bettor has a more favorable bet than the roller.