Statistics: Informed Decisions Using Data (4th Edition)

Published by Pearson
ISBN 10: 0321757270
ISBN 13: 978-0-32175-727-2

Chapter 5 - Section 5.1 - Assess Your Understanding - Explaining the Concepts - Page 268: 55

Answer

We suppose that for any event there is a probability. But, sometimes it cannot be calculated. So, the experiment in which the event happens is repeated a large numbers of times. The proportion with which the event is observed gets closer to the probability of this event. The Cassino benefits from the experiment (a game) being repeated a large number of times.

Work Step by Step

See The Law of Large Numbers, page 255.
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