Background:You’ve just been hired as a new employee at a casino. Your job is to design new games for the casino. As your first assignment, your boss has directed you to develop a new game involving a set of two 6-sided dice: Your boss has also added the following guidelines for each of the games that you create:There must be at least 5 but not more than 10 ways that the player can gamble on your game. All outcomes must be covered by the 5-10 choices that you give the players. Each of the “bets” that a player can make in your game must have different prizes associated with them.The game must move quickly. What this means is that the game can only consist of one roll of the dice.The casino must make money on your games. That is, the player must have negative expected value.Assignment:For the game that you designWrite up a < 1 page summary of each game, double spaced.Identify all possible outcomes of each game and their associated probabilities.Identify the player’s expected value for all possible bets that the player can make in your game

Answered: Background: You’ve just been hired as…

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

Background:

You’ve just been hired as a new employee at a casino. Your job is to design new games for the casino. As your first assignment, your boss has directed you to develop a new game involving a set of two 6-sided dice:

Your boss has also added the following guidelines for each of the games that you create:

There must be at least 5 but not more than 10 ways that the player can gamble on your game. All outcomes must be covered by the 5-10 choices that you give the players.
Each of the “bets” that a player can make in your game must have different prizes associated with them.
The game must move quickly. What this means is that the game can only consist of one roll of the dice.
The casino must make money on your games. That is, the player must have negative expected value.

Assignment:

For the game that you design

Write up a < 1 page summary of each game, double spaced.
Identify all possible outcomes of each game and their associated probabilities.
Identify the player’s expected value for all possible bets that the player can make in your game

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