Consider the following dice game: A pair of dice is rolled. If the sum is 7, then the game ends and you win 0. If the sum is not 7, then you have the option of either stopping the game and receiving an amount equal to that sum or starting over again. For each value of i , i = 2..... 12 , find your expected return if you employ the strategy of stopping the first time that a value at least as large as i appears. What value of i leads to the largest expected return? Hint: Let X i denote the return when you use the critical value i. To compute E [ X i ] condition on the initial sum.
Consider the following dice game: A pair of dice is rolled. If the sum is 7, then the game ends and you win 0. If the sum is not 7, then you have the option of either stopping the game and receiving an amount equal to that sum or starting over again. For each value of i , i = 2..... 12 , find your expected return if you employ the strategy of stopping the first time that a value at least as large as i appears. What value of i leads to the largest expected return? Hint: Let X i denote the return when you use the critical value i. To compute E [ X i ] condition on the initial sum.
Solution Summary: The author calculates the expected number of days until the prisoner freedom. The largest expected return mathrmi=8.
Consider the following dice game: A pair of dice is rolled. If the sum is 7, then the game ends and you win 0. If the sum is not 7, then you have the option of either stopping the game and receiving an amount equal to that sum or starting over again. For each value of
i
,
i
=
2.....
12
, find your expected return if you employ the strategy of stopping the first time that a value at least as large as i appears. What value of i leads to the largest expected return?
Hint: Let
X
i
denote the return when you use the critical value i. To compute
E
[
X
i
]
condition on the initial sum.
Among a student group 54% use Google Chrome, 20% Internet Explorer, 10% Firefox, 5% Mozilla, and the rest use Safari. What is the probability that you need to pick 7 students to find 2 students using Google Chrome? Report answer to 3 decimals.
Samples of rejuvenated mitochondria are mutated (defective) with a probability 0.13. Find the probability that at most one sample is mutated in 10 samples. Report answer to 3 decimal places.
The same final exam of the astronomy course was given to two groups of students. The maximum number of points that a student can score is 100. The first group consisted of a random sample of 10 students who were taught by Professor A. Students from the first group obtained the following results:
87 88 91 88 86 92 81 93 73 99
The second group consisted of a random sample of 9 students who were taught by Professor B. Students from the second group obtained the following results:
74 74 79 97 67 88 86 83 78
Compute the mean squares of between-group variability, MSBET. Round your answer to two decimal places.
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, probability and related others by exploring similar questions and additional content below.
Discrete Distributions: Binomial, Poisson and Hypergeometric | Statistics for Data Science; Author: Dr. Bharatendra Rai;https://www.youtube.com/watch?v=lHhyy4JMigg;License: Standard Youtube License