Hi, I was wondering, if I broke into a casino and painted the green tray red in roulette, I’d be on a winner playing red. So if I went in with 100 gold coins and put ALL on red, repeating playing all my coins, I’d lose after a few spins. If I put 50 on red I’d lose all after a while. Sooo.. not playing gives me no loss, playing gives me a loss, what level of speculation do I win at? ( probably!)
Risk management
- Thread starter Louis007
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Cubist
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- Oct 29, 2019
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If there was a single green pocket before you painted it, then it was probably a European casino. Therefore the wheel would now have 19 red and 18 green pockets. The probability of a win would now be 19/18 and you're thinking that the casino will double your stake if you win?
Have you heard of the binomial distribution?
Have you heard of the binomial distribution?
Yes......
D
Deleted member 4993
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Actually the question is:
Have you studied Binomial Distribution?
The hope was that by mentioning the name of Binomial Distribution - light bulb will go off in your head and you will be able to proceed with the problem. Since that did not happen, additional question is:
Under what conditions, would you use Binomial Distribution?