Unformatted text preview: two options to choose from: i) You win 29 dollars if the sum of the two dice is 2, and lose one dollar otherwise; ii) You win 4 dollars if the sum of the two dice is 7, and lose one dollar otherwise; a) Which option has a higher expected net-gain? Or are they the same? b) Which option has a higher chance of coming out ahead (winning some money)? (Hint: compare standard errors. You don’t need to actually find the chances.) 3. One hundred draws are made with replacement from the box | 1 3 0 -1 -2 |. Fill in the following blanks and show your work: The sum of the odd numbers drawn should be around , give or take or so. (Hint: 1, 3 and –1 are odd, 0 and -2 are even.)...
View Full Document
This note was uploaded on 07/08/2010 for the course STATS 21 taught by Professor Ibser during the Spring '09 term at Berkeley.
- Spring '09