Using R Programming: Sic Bo, also known as Big and Small, is a popular game played in casinos in Macau. The dealer picks up a box that contains 3 dice, shakes up the box, and opens the box to reveal the number on each die. If the sum is between 4 and 10, betting on small wins. If the sum is between 11 and 17, betting on big wins. The payoffs for betting on big and small are 1 to 1, meaning if you bet $10 and you win, you get your bet back plus another $10, meaning you end up with $20. And if you lose, you lose your $10. - Estimate the probabilities of winning if you bet "Big" and winning if you bet "Small." Does it appear that the casino has an edge? Suppose you bet \$1 on "Big" every time the game is played. What are your expected -

Using R Programming: Sic Bo, also known as Big and Small, is a popular game played in casinos in Macau. The dealer picks up a box that contains 3 dice, shakes up the box, and opens the box to reveal the number on each die. If the sum is between 4 and 10, betting on small wins. If the sum is between 11 and 17, betting on big wins. The payoffs for betting on big and small are 1 to 1, meaning if you bet $10 and you win, you get your bet back plus another $10, meaning you end up with $20. And if you lose, you lose your $10. - Estimate the probabilities of winning if you bet "Big" and winning if you bet "Small." Does it appear that the casino has an edge? Suppose you bet \$1 on "Big" every time the game is played. What are your expected -

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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After giving the lotto a try you decide to go back to Clayton Campus for some more gambling action. Theyare playing a die tossing game where you win a brand new home if you roll all sides of the die within 7rolls. Your crystal ball can see into the future and tells you that when you roll the die 7 times you don't seethe same number appear twice in a row. You decide to bet your entire rent for the year and try to win thehouse. You toss a fair six-sided die 7 times. Consider the following events, A = “each value appears atleast once” and B = “the outcome is alternate in numbers (i.e., a specific face of the die cannot be observed to occur directly after it was observed on the previous roll but it may have occurred elsewhere inthe sequence of rolls)”. What is p(A|B)? Are you likely to win the house?
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