Homework 6 Solution

The probability of choosing the right one is 110000

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Unformatted text preview: ads (#heads/#tosses) will get closer to 0.5 with more tosses. 11) P(get $5)=9/36 and the P(lose $1)=27/36. Thus, EV per game is 9/36($5)+27/36(- $1)=$0.50. I can’t actually ‘win’ the EV in the first game (it’s either +$5 or - $1 for the first game), but the EV in the long run, is $0.50 per game, so if I play 100 times, I expect to win about 100*$0.50=$50. 12) There are 10,000 equall...
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This note was uploaded on 12/13/2013 for the course STAT 1010 taught by Professor Decook during the Spring '13 term at University of Iowa.

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