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A Game of Strategy Pretend that a Las Vegas gambler has developed a new strategy at blackjack. In order to test his new strategy, he plays fifty games. He is interested in p, the probability of winning a game while using his new strategy, p = proportion of games that are wins in a population of blackjack games. (He does not know that under his new strategy, the probability of winning a game is p = 0.52). What is the gambler's 95% confidence interval for p? 1. First we need to simulate the 50 games the gambler is playing. Use randBin( on your calculator. Type randBin(50, .52) in your calculator, which will give you the number of wins for the 50 games. How many wins are there? 2. Construct a 95% confidence interval for the 50 games played by the gambler. 3. Did the gambler's 95% confidence interval capture p = 0.52?

A Game of Strategy Pretend that a Las Vegas gambler has developed a new strategy at blackjack. In order to test his new strategy, he plays fifty games. He is interested in p, the probability of winning a game while using his new strategy, p = proportion of games that are wins in a population of blackjack games. (He does not know that under his new strategy, the probability of winning a game is p = 0.52). What is the gambler's 95% confidence interval for p? 1. First we need to simulate the 50 games the gambler is playing. Use randBin( on your calculator. Type randBin(50, .52) in your calculator, which will give you the number of wins for the 50 games. How many wins are there? 2. Construct a 95% confidence interval for the 50 games played by the gambler. 3. Did the gambler's 95% confidence interval capture p = 0.52?

MATLAB: An Introduction with Applications
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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9:04 < Back A Game of Strategy.pdf A Game of Strategy Pretend that a Las Vegas gambler has developed a new strategy at blackjack. In order to test his new strategy, he plays fifty games. He is interested in p, the probability of winning a game while using his new strategy, p = proportion of games that are wins in a population of blackjack games. (He does not know that under his new strategy, the probability of winning a game is p = 0.52). What is the gambler's 95% confidence interval for p? 2. Construct a 95% confidence interval for the 50 games played by the gambler. 3. Did the gambler's 95% confidence interval capture p = 0.52? 1. First we need to simulate the 50 games the gambler is playing. Use randBin( on your calculator. Type randBin(50, .52) in your calculator, which will give you the number of wins for the 50 games. How many wins are there? 4. The gambler wants to know whether or not the probability of winning with his new strategy is 0.50. What would you tell him? State your answer in complete sentences and in layman's terms. Do not make a technical statement. 5. The gambler teaches his new strategy to 10 friends, and asks each of them to give it a try. Each of the 10 friends play 100 blackjack games. You can get all 10 trials by typing randBin(100, .52, 10)→L1, which will store the data in L1. Seed used: Construct a 95% confidence interval for each of the 10 friends and record in the table. Check if they captured the p = 0.52. Record your results in the table. Player 1 2 3 4 5 6 7 Which friend had the best luck with the new blackjack strategy? Put a happy face next to their results. Dashboard Wins 000 000 Calendar Q p-hat Gambling Record 95% CI Lower Limit D 39 To Do Upper Limit 674 p in CI? Yes/No Notifications Best Luck Player Ⓒ Inbox
Transcribed Image Text:9:04 < Back A Game of Strategy.pdf A Game of Strategy Pretend that a Las Vegas gambler has developed a new strategy at blackjack. In order to test his new strategy, he plays fifty games. He is interested in p, the probability of winning a game while using his new strategy, p = proportion of games that are wins in a population of blackjack games. (He does not know that under his new strategy, the probability of winning a game is p = 0.52). What is the gambler's 95% confidence interval for p? 2. Construct a 95% confidence interval for the 50 games played by the gambler. 3. Did the gambler's 95% confidence interval capture p = 0.52? 1. First we need to simulate the 50 games the gambler is playing. Use randBin( on your calculator. Type randBin(50, .52) in your calculator, which will give you the number of wins for the 50 games. How many wins are there? 4. The gambler wants to know whether or not the probability of winning with his new strategy is 0.50. What would you tell him? State your answer in complete sentences and in layman's terms. Do not make a technical statement. 5. The gambler teaches his new strategy to 10 friends, and asks each of them to give it a try. Each of the 10 friends play 100 blackjack games. You can get all 10 trials by typing randBin(100, .52, 10)→L1, which will store the data in L1. Seed used: Construct a 95% confidence interval for each of the 10 friends and record in the table. Check if they captured the p = 0.52. Record your results in the table. Player 1 2 3 4 5 6 7 Which friend had the best luck with the new blackjack strategy? Put a happy face next to their results. Dashboard Wins 000 000 Calendar Q p-hat Gambling Record 95% CI Lower Limit D 39 To Do Upper Limit 674 p in CI? Yes/No Notifications Best Luck Player Ⓒ Inbox
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