Answer the Question About the Law of Large Numbers

question 41

Multiple Choice

Answer the question about the Law of Large Numbers.
-A gambler playing blackjack in a casino has lost each of his first 16 bets. If he correctly understood the Law of large Numbers, which strategy would he use in betting on future blackjack hands?
A. He should bet based on the merit of each individual hand. While the proportion of wins should eventually approach
The true probability of winning, this does not mean that he is likely to recover early losses.
B. He should bet more on the next 16 hands, because the proportion of wins should quickly approach the true
Probability of winning.
B. He should bet less on the next 16 hands, because it doesn't look like this is a good day for him.
D. He shouldn't use any of the above strategies.

• A)c
• B)b
• C)a
• D)d

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Definitions:

Political Citizenship

involves the rights and duties associated with being a member of a state or nation, including participation in its political processes.

Social Control

Mechanisms, strategies, or institutions employed by a society to regulate individual behavior and enforce conformity to societal norms and laws.

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A situation in which a large portion of the workforce is unable to find employment, often due to economic downturns or industrial changes.