The Nero Place casino has a new, exciting gambling machine: the multiplying bandit. How does it work? The bandit has a lever or “arm” that the player may depress up to 10 times. After each pull, a H (heads) or a T (tails) appears, each with probability 1/2 . The game is over when heads appears for the first time, or when the player has pulled the arm 10 times. The player wins 2k dollars if heads appears after k pulls (1 ≤ k ≤ 10), and wins 211 = 2, 048 dollars if, after 10 pulls, heads has not appeared. In order to play the game, the player must pay $15. Assume there are 5, 000 games played each week. Use the CLT to approximate the probability that the casino will lose money in a given week
The Nero Place casino has a new, exciting gambling machine: the multiplying bandit. How does it...
Please help me write these in R script / Code 1, Suppose you're on a game show, and you're given the choice of three doors. Behind one door is a car; behind the others, goats. You pick a door, say #1, and the host, who knows what's behind the doors, opens another door, say #3, which has a goat. He then says to you, "Do you want to pick door #2?" What is the probability of winning the car if...
Have to show work for every problem 4. A company uses three plants to produce a new computer chip. Plant A produces 30% of the chips. Plant B produces 45% of the chips. The rest of the chips are produced by plant C. Each plant has its own defectiv rate. These are: plant A produces 3% defective chips, plant B produces 1% defective chips, plant C produces 5% defective chips. Hint: draw a tree diagram. (a) Construct a tree diagram...