Introduction to Probability · Problem 8.1.4

Law of Large Numbers — Grinstead & Snell

Mathematics — Probability · law-of-large-numbers

Problem

A 1-dollar bet on craps has an expected winning of −.0141-.0141. What does the Law of Large Numbers say about your winnings if you make a large number of 1-dollar bets at the craps table? Does it assure you that your losses will be small? Does it assure you that if nn is very large you will lose?

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