Quiz4Sols - Solutions for Quiz 4 1) Suppose that 200 fair...

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Solutions for Quiz 4 1) Suppose that 200 fair dice are tossed. Estimate the chance that the sum of the 200 rolls is at least 715. a) Box Model: Draw from the following box and sum draws: [1, 2, 3, 4, 5, 6] Box Statistics: Box.avg = (1+2+3+4+5+6)/6 = 3.5 Box.sd = 1.707825 Sum of draws Statistics: 1) EV = 200*3.5 = 700 2) SE = sqrt(200)*1.707825 = 24.152295 Min = 200 Max = 1200 b) Normal Approximation: 1) Continuity Correction: Necessary since we have at least one pair of consecutive integers, endpoint is included, and # of draws is less than 10,000. 2) Convert 715-.5 = 714.5 to Standard Units, SU = (714.5 – EV)/SE = (714.5 – 700)/24.152295 = .600357 Area above this is, 50% – 0.5*Area(z=.600357) = 50% – 0.5*45.15% = 27.43 c) Normal Approximation Justification: 1) There are at least 25 draws 2) 700 – 2*SE > 200 and 700 + 2*SE < 1200 2) a) Box Model: Draw from the following box: [ From each pair of bets your net gain is either -$2 (Lose, Lose), $0 (Win, Lose), $34 (Lose, Win), or $36 (Win, Win). The chance of getting -$2 is
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This note was uploaded on 02/08/2011 for the course STAT 21 taught by Professor Anderes during the Fall '08 term at University of California, Berkeley.

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Quiz4Sols - Solutions for Quiz 4 1) Suppose that 200 fair...

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