If you bet $1 on number 13 at roulette then you win $35 if that number comes up, event of probability 1/38, and you lose your dollar otherwise. You play roulette 70 times.
(a) Determine the probability that you have lost $70?
(b) Determine the probability that you won $2?
(c) Employ the Poisson approximation to show that if you play 70 times, the probability you will have won more money than you have lost is larger than 1/2