Posted by NoMath on June 26, 1997 at 12:44:05:A Casino makes it's money through having an edge on the odds. Say an even happens one out of six times but the Casino only pays out 5 to 1 to a player upon the happening of that event. Therefore making a profit on the odds of such occurence. Now lets assume that there have been 400 rolls of dice without a seven being rolled. Taking as true the theory of large numbers, isn't the odds of a seven being rolled increased dramatically in order to conform the the theory? Although the law of independent trails is in force on the next roll the theory of large numbers favors a seven being rolled. It would seem that those two accepted mathematical formulas are contradictary to each other. Is this a mathematical enigma or am I missing something?
No Math
- the riddle revealed Dr. N 13:57:27 6/26/97 (4)
- Re: The Law of Large Numbers Bisser 14:26:27 6/26/97 (2)
- Re: The Law of Large Numbers Pete Moss 01:06:12 6/27/97 (0)
- Re: The Law of Large Numbers Dr. N 17:20:33 6/26/97 (0)
- Re: Law of Independent Trials: Is It Flawed? Don Schlesinger 13:21:24 6/26/97 (12)
- Re: Law of Independent Trials: Is It Flawed? Bryce Carlson 19:52:49 6/26/97 (3)
- Minor addendum Bryce Carlson 22:23:46 6/26/97
- Re: Minor addendum Pete Moss 02:17:44 6/27/97