In the game of craps two dice are thrown and the outcome of, Ask an Expert

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In the game of "craps" two dice are thrown and the outcome of a bet is based on the sum of the two dice. If you bet $1 that the sum is "seven" then you win $4 or lose your dollar. The probability that you win is 6/36=1/6, and P(loss) = 5/6. Find a rough range for a) 200 plays, (b) 20, 000 plays.

You must show your work when you compute the SD of the box!

[Hint: you must find the box model, the simplest model has six tickets in the box with some of the tickets +4 and others -1. You must determine how many of each of those two numbers are in the box. You must also find the average and SD of the box, use "n" not "(n-1)" to compute the SD.]

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Statistics and Probability, Statistics

Category:- Statistics and Probability
Reference No.:- M91015994

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