SOA Exam FAM Sample Question 21
Study guide: Exam FAM
At the beginning of each round of a game of chance the player pays 12.5. The player then rolls one die with outcome N. The player then rolls N dice and wins an amount equal to the total of the numbers showing on the N dice. All dice have 6 sides and are fair.
Calculate the probability that a player starting with 15,000 will have at least 15,000 after 1000 rounds using the normal approximation.
- A) 0.01
- B) 0.04
- C) 0.06
- D) 0.09
- E) 0.12
Answer this question and see the worked solution