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## Engineering

 Civil Engineering Chemical Engineering Electrical & Electronics Mechanical Engineering Computer Engineering Engineering Mathematics MATLAB Other Engineering Digital Electronics Biochemical & Biotechnology

Aim: To practice MATLAB and basic Simulation Techniques

problem) A gambler makes a series of plays with outcomes X1,X2.......  where the Xi, i>=1 are independent, identically distributed random variables. The cost of each play is c. The gambler can stop at any time n>=1 with the fortune:

The gambler will stop if Xn > β. The gambler wants to maximize the mean of his fortune. What are the best values of β in the following two cases?

1) Case A: c = 0.2 and the distribution of Xn is the exponential distribution, i.e., its density function is

2) Case B: c = 0.1 and Xn is a discrete random variable obeying Poisson distribution:

P(x=k) = 1/ek! for k= 0,1,2,3....,

i) Find the best of values of β by using Monte Carlo simulation.

ii) prepare a report with the following sections:

Problem: You should describe this problem in a way such that a 16-year old high student student can understand it.

Method: You should describe and describe your method (not your matlab code) in details.

Code: your well-structured and well-documented code.

Experimental Results and Discussion: You report your ex-perimental results here and give some discussions. You should use figures to show your results.

Conclusion: Summarize what you have done and your reection. Your report should be at most five pages.

Submissions:

1) On-line submission

MATLAB, Engineering

• Category:- MATLAB
• Reference No.:- M9172

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