AQR Section 13 Exercise 57: Fair Game?

Is the game fair? Roll a single die. If a 6 appears, you win $2. If a 5 appears, you win $1. If any other number appears, you win 50¢. You pay $1 to play the game. The applet below simulates this game and displays a histogram of the net winnings (winnings - $1 it costs to play). Click on the RESET button to clear the data, the press the small PLAY arrow in the lower left corner to start a new simulation.

 

Steve Phelps

 
Resource Type
Activity
Tags
aqr  exercises  expected-value  practice  random-experiments 
Target Group (Age)
15 – 18
Language
English (United States)
 
 
 
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