A Poker Player Is Dealt Poor Hands for Several Hours

question 30

Multiple Choice

A poker player is dealt poor hands for several hours. He decides to bet heavily on the last hand of the evening on the grounds that after many bad hands he is due for a winner.

• A) He's right, because the winnings have to average out.
• B) He's wrong, because successive deals are independent of each other.
• C) He's right, because successive deals are independent of each other.
• D) He's wrong, because his expected winnings are $0 and he's below that now.

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Definitions:

Additional Shifts

Extra work periods added to a company's regular schedule to increase production or cover demand.

Financial Plan

A comprehensive evaluation of an individual's or organization's current pay and future financial state by using current known variables to predict future income, asset values, and withdrawal plans.

Forecast of Sales

An estimate of the future sales volume over a specific period, based on historical data, market analysis, and other factors.

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The income generated from normal business operations and includes discounts and deductions for returned merchandise.