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Estimate the probability of wages result

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Reference no: EM131556751

Question: Let X be the amount won or lost in betting $5 on red in roulette. Then px(5)=18/38 and px(-5)=20/38. If a gambler bets on red one hundred times times, use the central limit theorem to estimate the probability that those wages result in less than $50 in losses.

Reference no: EM131556751

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