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A man walks into a casino and begins to gamble. He plans to play 300 rounds....

A man walks into a casino and begins to gamble. He plans to play 300 rounds. The probability that he will win 1 dollar for the round is 0.493 and the probability he loses one dollar in the round is 0.507. After 300 games what is the probability the casino will be behind more than 10 dollars?

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Answer #1

Let X denote the earning in one round.

and,

So,

Using Central Limit theorem,

Required probability =

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