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Author Question: Answer the question about the Law of Large Numbers.A gambler playing blackjack in a casino has lost ... (Read 464 times)

imanialler

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on: Jan 18, 2020
Answer the question about the Law of Large Numbers.

A gambler playing blackjack in a casino has lost each of his first 16 bets. If he correctly understood the Law of Large Numbers, which strategy would he use in betting on future blackjack hands?
a. He should bet based on the merit of each individual hand. While the proportion of wins should eventually approach the true probability of winning, this does not mean that he is likely to recover early losses.
b. He should bet more on the next 16 hands, because the proportion of wins should quickly approach the true probability of winning.
b. He should bet less on the next 16 hands, because it doesn't look like this is a good day for him.
d. He shouldn't use any of the above strategies.
◦ b
◦ d
◦ a
◦ c
Statistical Reasoning for Everyday Life ¦ Bennett, Briggs, Triola ¦ 5th Edition
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Marked as best answer by imanialler on Jan 18, 2020

leannegxo

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Reply #1 on: Jan 18, 2020
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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imanialler

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Reply 2 on: Jan 18, 2020
Thanks for the timely response, appreciate it

mohan

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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