Introduction to Statistical Methods for the Life and Health Sciences

x  $5  $5  $10  $60 
pr(X=x)  0.579  0.347  0.069  0.005 
 What are the values of E[X_bar] and SD[X_bar]?
 What is the approximate distribution of X_bar? What theorem was needed to decide this?
 Calculate the probability of, on average, making a positive return from placing one hundred separate bets with $5 stakes.
 Repeat the calculations above using 1,000, 5,000 and 10,000 bets.
 Create a scatter plot of probability that the mean return from playing Tai Sai is positive (on yaxis) versus number of bets (on xaxis). Comment on what the plot appears to show.