Hi;

We finished 3 pages with no conclusions.

That is not correct. We covered the expected value of the experiment ( 48 / 1000 ), we used the central limit theorem to state that the wheel probably has an average close to ( 48 / 1000 ) and I explained the standard deviation.

I told you your expected profit with the data you gave me, 72 cents on the dollar.

We might start again.

What does 48/1000 tell?

Like any empirical experiment it can only provide evidence. Statistics you can say is designed to make mathematical sense out of data like yours.

What would you like to do next?