Discuss the behavior of given function

Assignment Help Basic Statistics

Reference no: EM131167143

Suppose you play a game at a casino where your probability of winning each game is 0.49. On each game, you bet $10, which you either win or lose.

Let P(n) be the probability that you are ahead by at least $50 after n games.

Graph this probability versus n for n equal to multiples of 50 up to 1000.

Discuss the behavior of this function and why it behaves as it does.

Reference no: EM131167143

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