Question

Supposethatyoubet$5oneachofasequenceof50independentfairgames. Usethecentrallimittheorem to approximate the probability that you will lose more than $75

Answer 1

0.119

Step-by-step explanation:

50 independent fair games

Mean will be 50/2 = 25

Standard deviation of the loosing probability is :

`√(50*0.5*0.5)` * 10 = 33.536

we have to loose 33 times out of 50 games.

To find the approximate probability we use z- value table.

z value =
`(33-25)/(3.35)`

z - value = 2.2659

Looking at the z-value table we get 0.119.