Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask MATLAB Expert

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:

1747_simulation technique.jpg

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

29_density function.jpg

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....,

Your Task:

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

2) Your submission should include:

a) your report (named by REPORTyourloginname.XXX) and

b) your code file (named by CODEyourloginname.XXX).

MATLAB, Engineering

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

Have any Question? 


Related Questions in MATLAB

Instructions for each of the following exercise create an

Instructions: For each of the following exercise, create an M-file to store the MATLAB commands. Copy and paste the M-file into a text document. Include in the text document the pictures produced by MATLAB. Resize and cr ...

Use matlab to solve the following equations please i plot

Use Matlab to solve the following equations. Please (i) plot the solution as a function of t for t  ∈ [0, 100]. (ii) draw the phase diagram of the ODE. 1. dy/dt = y 2 + y with y(0) = 1         dy 1 /dt = y 2 2.           ...

Question 1 a what is the period of the forced oscillation

Question 1. (a) What is the period of the forced oscillation? What is the numerical value (modulo 2Π) of the angle α defined by? (b) In this question you are asked to modify the file LAB06ex1.m in order to plot the compl ...

Plotting and computer animation in matlabinstructions for

Plotting and computer animation in MATLAB Instructions: For each of the following exercise, create an M-file to store the MATLAB commands. Copy and paste the M-file into a text document. For problems 1 and 2, include in ...

1 calculate the following for the function f x e-3x -

1) Calculate the following for the function f (x) = e -3x - 2x a. Calculate the derivative of the function by hand. Write a MATLAB function that calculates the derivative of this function and calculate the derivative at ...

Problem 1 10pts the csu-chill radar made observations of

Problem 1 [10pts.]: The CSU-CHILL radar made observations of the Ponnequin Wind Farm located on the boarder of Wyoming and Colorado near I-25. The wind farm is approximately 62 km away from the radar. Complex valued digi ...

Question 1backgroundclimate change is a change in global or

QUESTION 1 Background Climate change is a change in global or regional climate patterns, in particular a change apparent from the mid to late 20th century onwards and attributed largely to the increased levels of atmosph ...

Question 1backgroundyou have been asked to manage a project

QUESTION 1 Background You have been asked to manage a project to install a pipeline from an offshore gas platform to an onshore gas processing plant, and to find the cheapest design that is possible. The platform is Q km ...

Matlabproject descriptionwrite a mileage per gallons and

MATLAB Project description: Write a mileage per Gallons and miles per dollar calculator program using two functions, one to calculate MPG and one to calculate MPD. The application will prompt the user to type the odm rea ...

Reports of projectproblem design a fourbar grashof

REPORTS OF PROJECT PROBLEM: Design a fourbar Grashof crank-rocker to give? (Everyone will determine the terms given by professor) of rocker rotation with equal time forward and back, from a constant speed motor input. 1- ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro

Describe what you learned about the impact of economic

Describe what you learned about the impact of economic, social, and demographic trends affecting the US labor environmen