Probability, Decisions and Games by Abel Rodr&íguez & Bruno Mendes

Author:Abel Rodr&íguez & Bruno Mendes [Rodríguez, Abel & Mendes, Bruno]
Language: eng
Format: epub
ISBN: 9781119302629
Publisher: Wiley
Published: 2018-02-22T00:00:00+00:00

This leads to

As before, you can use R to compute this number

Since this number is relatively large, there is little reason to think that the wheel is biased (the difference between 263 and 270 is small enough for it to be likely due to randomness).

7.5 Bernoulli Trials

When you look at the outcomes of multiple rounds of roulette, you are looking at an example of a very particular type of experiment called Bernoulli trials. A set of Bernoulli trials satisfies the following requirements:

Each repetition of the experiment is independent from the rest.

There are only two possible outcomes for each repetition of the experiment (call them win and lose).

The probabilities of winning and losing are the same for each experiment (call the probability of success ).

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