I am new here and I am not sure if this is the correct place to ask this question.
It seems like a simple probability question but I am stuck on it. It is a problem I am trying to solve.
Lets say I have 43 bets. The probability of a bet winning is 0.64. The probability of a bet losing is 0.36.
What is the probability that 29 of those 43 bets will be losing/losers?
I worked it out like this:
29 / 43 = 67% 0.36 * 67 = 24.12% chance that 29 of those 43 bets will be losing/losers.
But this seems very simplistic and incorrect to me. Because for example - when the number of bets goes up e.g. 43 goes up to 100 bets. The probability that 29 of those 100 bets losing goes down to say 10.44%. Which seems wrong to me. Because I think if the number of bets goes up, then the probability of losing a fixed number of 29 should also go up, as there are higher "chances" of losing.
Could you list the correct answer, working out and possibly a link where I can read to learn more.
I did read up on this, but there were so many ways of achieving this. I read about Binomial distributions etc, but the answers I kept calculating just seemed very wrong to me.