A blackjack player has a 46% probability of winning every time he plays an hand. Every...
A blackjack player has a 46% probability of winning every time he plays an hand. Every hand he can either win $10 or lose $10.
What is the probability after playing 40 hands of having a negative balance of $40 (losing $40)?
Homework Answers
having a negative balance of $40 meaning winning 18 and losing 22 out of 40
therefore P(negative balance of $40)=P(X=18)=(40C18)*(0.46)18*(0.54)22 =0.12498 ~0.1250
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