343Homework#1Sp2015-1.docx

# 343Homework#1Sp2015-1.docx - CIS 343 Homework#1 1 In the...

This preview shows pages 1–2. Sign up to view the full content.

CIS 343 Homework #1 1. In the game of “craps” two dice are thrown and the outcome of a bet is based on the sum of the two dice. If you bet \$1 that the sum is “seven” then you win \$4 or lose your dollar. The probability that you win is 6/36=1/6, and P(loss) = 5/6. Find a rough range for a) 200 plays, (b) 20, 000 plays. You must show your work when you compute the SD of the box! [Hint: There are four steps in solving this problem. 1. You must first find the box model, the simplest model has six tickets in the box with some of the tickets +4 and others –1. You must determine how many of each of those two numbers are in the box. 2. Next find the Average of the box and the SD of the box, use “n” not “(n-1)” to compute the SD. 3. Third compute Expected(Winnings)=m·AveOfBox and SD(Winnings)= m·SDofBox, where m is the number of plays. 4. Finally the Rough Range is Expected(Win)±SD(Win).] 2. Work out the average and SD for the following list: a) 1, 3, 4, 5, 7

This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

### What students are saying

• As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

Kiran Temple University Fox School of Business ‘17, Course Hero Intern

• I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

Dana University of Pennsylvania ‘17, Course Hero Intern

• The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

Jill Tulane University ‘16, Course Hero Intern