Question 8.99

68. In Exercise 60, you found the mean and standard deviation of the outcome of a column bet in roulette. The central limit theorem says that the average outcome of a large number of bets has a distribution that is close to normal.

  1. What is the 99.7% confidence interval estimate (mean ±3 standard deviations) of a gambler’s average winnings after 100 bets?
  2. What is the 99.7% confidence interval estimate of a gambler’s average winnings after 1000 bets?