Exercise

Exercise 1. American Roulette probability of winning money

The exercises in the previous chapter explored winnings in American roulette. In this chapter of exercises, we will continue with the roulette example and add in the Central Limit Theorem.

In the previous chapter of exercises, you created a random variable \(S\) that is the sum of your winnings after betting on green a number of times in American Roulette.

What is the probability that you end up winning money if you bet on green 100 times?

Instructions

100 XP

Execute the sample code to determine the expected value avg and standard error se as you have done in previous exercises.
Use the pnorm function to determine the probability of winning money.

Take Hint (-30 XP)