This case study tackles a tricky problem in probability based on the well-known carnival game Chuck-a-Luck, which, at first glance, appears to favor the bettor. Students must first correct a common fallacy in probabilistic reasoning and then extend play to a gambler’s ruin analysis.
Details
Type Journal ArticlePub Date 9/1/2001Stock # jcst01_031_01_28Volume 031Issue 01