Answer to Question #151344 in Statistics and Probability for Eric Koomson

Question

A casino gambler keeps on inserting fifty Ghana pesewa coins into a vending machine with the hope of winning ten Ghana cedis after each try. After five tries, he has not won anything. Nevertheless, he decides to continue playing the game.
(i). Indicate whether the decision taken is right or wrong, giving reasons for your answer.
(ii). Base on your decision taken in (i) above, explain the probability concept that the gambler employed in playing the game.

Answer 1

a)i) The decision taken by the casino gambler is right because as he continues to play, he increases the chances of his winning.

ii) Based on the decision made in i) above, the gambler applies the concept of law of large numbers. As the number of trials increases the chances of winning increases.