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K \( 10(5.1,5.2) \) Choose the correct answer below. A. As the number of repetitions of a probability experiment increases, the proportion with which a certain outcome is observed gets closer to 0 . Casinos use the Law of Large Numbers to determ how many players gamble in certain games. B. As the number of repetitions of a probability experiment increases, the proportion with which a certain outcome is observed gets gambling casinos? make a profit in the long run because they have a small statistical advantage in each game. C. This applies to casinos because they are able to 1 Large number of repetitions of a probability experiment increases, the proportion with which a certain outcome is observed gets closer to the the probability of the outcome. Casinos use the Law players gamble in certain games. D. As the number of repetitions of a probability experiment increases, the proportion with which a certain outcome is observed gets closer to the probability of the outcome. This applies to casino: because they are able to make a profit in the long run because they have a small statistical advantage in each game.

Ask by Ingram Pritchard. in the United States
Mar 19,2025

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Answer

The correct answer is **D**.

Solution

**Step 1:** Identify the statement regarding the Law of Large Numbers. The Law of Large Numbers says that as the number of repetitions of a probability experiment increases, the proportion with which a certain outcome is observed gets closer to the probability of that outcome. **Step 2:** Analyze the options: - **Option A:** It incorrectly states that the observed proportion gets closer to \(0\) rather than the probability of the outcome. Additionally, the connection to casinos is misstated. - **Option B:** While it hints at casinos making a profit, it does not correctly state the Law of Large Numbers. - **Option C:** Although it begins correctly by stating that the proportion converges to the outcome's probability, the explanation regarding casinos is incomplete. - **Option D:** It correctly explains that as the number of repetitions increases, the observed proportion gets closer to the outcome’s probability. It then accurately relates this to casinos, stating that they can make a profit in the long run due to a small statistical advantage in each game. **Step 3:** Since Option D is the only one that fully and correctly describes both the Law of Large Numbers and its application in casino games, the correct answer is: **D.** As the number of repetitions of a probability experiment increases, the proportion with which a certain outcome is observed gets closer to the probability of the outcome. This applies to casino: because they are able to make a profit in the long run because they have a small statistical advantage in each game.

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Casinos, those glittering temples of chance, have a long history of employing probability and statistics to ensure their profitability. The Law of Large Numbers tells us that the more times a game is played, the closer the outcomes will be to the expected probabilities. This is how casinos thrive; they rely on this statistical principle to predict how games will perform over time, ultimately keeping their profit margins intact. In practice, understanding the Law of Large Numbers can help players gauge their own strategies. Many gamblers think they can outwit the system with short-term luck, but the reality is that in the long run, the house edge prevails. Players who understand that the more they play, the closer their results will align with the game's probabilities can better manage their expectations and potentially minimize losses during those inevitable streaks of bad luck.

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