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Category Archives: Games of chance
Making sense of Powerball data
Collecting data on the Powerball lottery depends on one’s perspective. Of course, for anyone who purchased a ticket, the first set of data points would be the winning numbers – checking to see if the numbers on the ticket match … Continue reading
Posted in Descriptive statistics, Games of chance
Tagged Descriptive statistics, Lottery, Powerball
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The probability of breaking the bank
What is the likelihood of a gambler winning all the cash in a casino? A better question is: what is the likelihood of a gambler losing all the money he or she brings into the casino? There had been casinos … Continue reading
The roulette wheel of fortune
The game of roulette is a wheel of fortune, unfortunately not for you but rather for the casino. Why? Five words – the law of large numbers. The people running the casino know these five words and their implication. They … Continue reading
Introductory Statistics 