1. The casino game of chuck-a-luck seems quite simple and that it would be a pretty good bet. In this game, three dice are rolled (usually inside a wire cage). You can bet a set amount, let's say $5, on a specific number 1-6. You win the amount of your bet for each appearance of your number on the dice. If the number does not appear, you lose your bet. For example, let's say you bet $5 on the number 3. If it appears on exactly one die, you win $5 (and keep your bet) with probability 75/216. If it appears on exactly two dice, you win $10 (and keep your bet) with probability 15/216. If it appears on all three dice, you win $15 (and keep your bet) with probability 1/216. If it appears on none of the dice, you lose your original $5 bet. Construct the probability distribution for chuck-a-luck and determine your expected winnings on a $5 bet.
1. The casino game of chuck-a-luck seems quite simple and that it would be a pretty good bet. In this game, three dice are rolled (usually inside a wire cage). You can bet a set amount, let's say $5, on a specific number 1-6. You win the amount of your bet for each appearance of your number on the dice. If the number does not appear, you lose your bet. For example, let's say you bet $5 on the number 3. If it appears on exactly one die, you win $5 (and keep your bet) with probability 75/216. If it appears on exactly two dice, you win $10 (and keep your bet) with probability 15/216. If it appears on all three dice, you win $15 (and keep your bet) with probability 1/216. If it appears on none of the dice, you lose your original $5 bet. Construct the probability distribution for chuck-a-luck and determine your expected winnings on a $5 bet.
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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Question

Transcribed Image Text:1. The casino game of chuck-a-luck seems quite simple and that it would be a
pretty good bet. In this game, three dice are rolled (usually inside a wire cage).
You can bet a set amount, let's say $5, on a specific number 1-6. You win the
amount of your bet for each appearance of your number on the dice. If the
number does not appear, you lose your bet. For example, let's say you bet $5
on the number 3. If it appears on exactly one die, you win $5 (and keep your
bet) with probability 75/216. If it appears on exactly two dice, you win $10
(and keep your bet) with probability 15/216. If it appears on all three dice, you
win $15 (and keep your bet) with probability 1/216. If it appears on none of
the dice, you lose your original $5 bet. Construct the probability distribution for
chuck-a-luck and determine your expected winnings on a $5 bet.
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