Answered: draw one card from a well-shuffled deck…

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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You draw one card from a well-shuffled deck of cards. you win $1 if you draw a heart, $5 if you draw an ace (including the ace of hearts), $10 if you draw the king of spades and nothing for any other card you draw. (a) Find out the distribution, expected value, and the SD of the reward from a single card game. Is it normally distributed? (b) Use the central limit theorem (CLT) to find the probability that the total reward is over $100 if one plays the card game 100 times. Here the card drawn in a game is always placed back into the deck before the next game. So the outcomes of the 100 games are independent. (c) Can one use the CLT to find the probability that the total reward is over $10 if one plays the card game 10 times? Why or why not?

Features Features Normal distribution is characterized by two parameters, mean (µ) and standard deviation (σ). When graphed, the mean represents the center of the bell curve and the graph is perfectly symmetric about the center. The mean, median, and mode are all equal for a normal distribution. The standard deviation measures the data's spread from the center. The higher the standard deviation, the more the data is spread out and the flatter the bell curve looks. Variance is another commonly used measure of the spread of the distribution and is equal to the square of the standard deviation.

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