# Question: Reconsider Prob 20 4 6 involving the game of craps Now the

Reconsider Prob. 20.4-6 involving the game of craps. Now the objective is to estimate the probability of winning a play of this game. If the probability is greater than 0.5, you will want to go to Las Vegas to play the game numerous times until you eventually win a considerable amount of money. However, if the probability is less than 0.5, you will stay home. You have decided to perform simulation on a spreadsheet to estimate this probability. Use ASPE to perform the number of trials (plays of the game) indicated below twice.

(a) 100 trials.

(b) 1,000 trials.

(c) 10,000 trials.

(d) The true probability is 0.493. What conclusion do you draw from the above simulation runs about the number of trials that appears to be needed to give reasonable assurance of obtaining an estimate that is within 0.007 of the true probability?

(a) 100 trials.

(b) 1,000 trials.

(c) 10,000 trials.

(d) The true probability is 0.493. What conclusion do you draw from the above simulation runs about the number of trials that appears to be needed to give reasonable assurance of obtaining an estimate that is within 0.007 of the true probability?

**View Solution:**## Answer to relevant Questions

Consider the example involving Freddie the newsboy that was introduced in Sec. 20.6. The spreadsheet model is available in this chapter’s Excel files on the book’s website. The parameter analysis report generated in Sec. ...Flight 120 between Seattle and San Francisco is a popular flight among both leisure and business travelers. The airplane holds 112 passengers in a single cabin. Both a discount 7-day advance fare and a full-price fare are ...Use the mixed congruential method to generate a sequence of five two-digit random integer numbers such that xn + 1 ≡ (41xn + 33) (modulo 100) and x0 = 48. View the second demonstration example (Simulating a Queueing System with Priorities) in the simulation area of your OR Tutor. Then enter this same problem into the interactive procedure for simulation in your IOR Tutorial. ...Refer to the scenario described in Prob. 3.4-12 (Chap.3), but ignore the instructions given there. Focus instead on using spreadsheet modeling to address Al Ferris’s problem by doing the following. (a) Visualize where you ...Post your question