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Statistics for Business by Derek Waller

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3

Basic Probability and counting Rules

The Wheel of Fortune

For many, gambling casinos are exciting establishments. The one-arm-bandits are colourful machines with flashing lights, which require no intelligence to operate. When there is a “win” coins drop noisily into aluminium receiving tray and blinking lights indicate to the world the amount that has been won. The gaming rooms for poker, or blackjack, and the roulette wheel have an air of mystery about them. The dealers and servers are beautiful people, smartly dressed, who say very little and give an aura of superiority. Throughout the casinos there are no clocks or windows so you do not see the time passing. Drinks are cheap, or maybe free, so having “a few” encourages you to take risk. ...

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