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Part 1 On your own , answer the following: Make a probability table for this distribution What is your expected gain or loss from playing?
Part 1
On your own, answer the following:
- Make a probability table for this distribution
- What is your expected gain or loss from playing?
- If you played 100 times how much would you expect to win or lose?
- After looking at this information and doing a few calculations, would you play? Why or why not?
- Is it binomial? I'll leave this for you to investigate and explain.
Part 2
As a group, address the following:
- Would you play? Discuss in-depth.
- How could the binomial distribution described in the original post be adjusted to favor the 'house' more? How could it be adjusted to favor the player more?"
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