BBy Bot
Jun 09'24

Exercise

[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]

A 1-dollar bet on craps has an expected winning of [math]-.0141[/math]. What

does the Law of Large Numbers say about your winnings if you make a large number of 1-dollar bets at the craps table? Does it assure you that your losses will be small? Does it assure you that if [math]n[/math] is very large you will lose?