B14 Fx D 1 N 0 Suppose You Have The Opportunity To Play A Game With A Wheel Of Fortune Similar To The One On Tv Whe 1 (88.38 KiB) Viewed 109 times
B14 Fx D 1 N 0 Suppose You Have The Opportunity To Play A Game With A Wheel Of Fortune Similar To The One On Tv Whe 2 (36.5 KiB) Viewed 109 times
B14 fx D 1 N 0 Suppose you have the opportunity to play a game with a 'wheel of fortune" (similar to the one on TV). When you spin a large wheel, it is equally likely to stop in any position. Depending 2 3 on where it stops, you win anywhere from $0 to $1000. The population is the set of all outcomes you could obtain from a single spin of the wheel that is, all dollar values from so to $1000. Furthermore, because we assume that the wheel is equally likely to land in any position, all possible values from $0 to $1000 have the same chance of occurring. Therefore, we 1 have a uniform distribution for our population on the interval from $0 to $1000, 5 G 7. What are the values of a and b for this uniform distribution? 8 0 9 1000 0 What are the mean and standard deviation for this uniform distribution? 2 3 Mean 500 4 Standard Deviation 5 6 What is the probability of winning more than $600 on one spin of the wheel? SH EL of NE FOR JUN 4 + 6 B P[X600) = 9 0 Let's suppose your winnings are actually based on not one spin, but on the average of a spins of the wheel. We'll replicate 1,000 trials of this game. The Simulation sheet actually shows 2 the simulation Change the number of spins in cellB6 and notice how the number of outcomes in each replication is the same as the number of spins. Then make the number of spins 3 equal to 10 s on the simulation sheet, calculate the winnings for each replication of the experiment. Note that each winning value is the same thing as an x-bar for that row. 7 Using the experimental data, calculate the mean and the standard deviation of Theoretically, what should be the values for the mean and standard deviation of these x bars? your winnings. (Be sure you reference cells from the Simulation sheet.) (Hint: You will need to reference a cell on the Simulation sheet for one of these) Experimental) Summary measures of winnings Theoretical measures for winnings mean of winnings Expected Value of winnings Je-lebar) 1 50 of winning Standard Error sigma, 2 Using the values of bar from the winnings column, create a histogram for your sampling distribution. Cut and paste so it appears on this sheet below. (Note: The graph you create should change as your duta changes on the Simulation sheet) 3 2
45 47 un 49 50 51 Change the value of n from 1 through 10. For each valur, recalculate the data sheet a couple of times by pressing 9 or by going to the formulas tab and dicking on "Calculate Now at the 57 top right corner of the ribbon Pay attention to the calculated values above mean and sand to the histogram How does the typical experimental mean and theoretical mean (expected value change as increases? 14 Answer here 55 54 How does the treat experimental standard deviation and theoretical standard deviation citandard error change as an increases? (Arwel here 50 50 02 How does the shape of the sampling diatribution change as an inores? Answer here The Central Lim Theorem ays must typically be 10 or more in order to approximate a sampling distribution with a normal on Do you think this camping duritibitan be Mapproximated by a normal dibution when 107 Why or why not? (Answer here) 12 71 72 Wat is the experimental probability of Wising more than 600 on 10 spins of M the wheel in You need to reference the simulation sheet) What is the theory of wore than on 10 of the wheel (nume you can earn for that Proj PO banco
Join a community of subject matter experts. Register for FREE to view solutions, replies, and use search function. Request answer by replying!