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 Gambler’s dilemma (Posted on 2021-05-28)
A wealthy mathematician WG offered you a proposition you cannot refuse: participate for one hour exactly in one of the following games:

a. Throw four regular fair dice and if at least one six appears you get a dollar, otherwise you pay a dollar.
b. Keep executing throws of two fair dice until both show a six - you win a dollar , but if 25 throws were unsuccessful you lose a dollar and begin a new round of 25 or less (when 2 sixes appeared earlier).
If the time limit expires within the “25 throw” sequence the current run is aborted.

WG thinks that in both cases the chances are about fifty-fifty

1. What would be your choice assuming you were given 60 seconds to make up your mind?
2.Solve analytically what would be the expected winnings in each of the cases.
3. Get the answers by simulating both cases.

Assume that a throw lasts 10 seconds and the payouts are executed in no time. Please compare the results of 1, 2, 3.

 Subject Author Date seomoz seomoz master 2022-04-21 00:33:42 No Subject kane 2021-06-10 23:34:40 Online game development Talley Chan 2021-06-05 22:28:12 re: Part 3 simulation results - not working? tomarken 2021-05-28 12:56:15 computer solution Charlie 2021-05-28 11:12:11 Part 3 simulation results tomarken 2021-05-28 09:09:08 Answers to 1 and 2 tomarken 2021-05-28 08:54:52

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