Two players, Juanita and Rafael, take turns in tossing a fair coin. If the outcome is heads,

Question:

Two players, Juanita and Rafael, take turns in tossing a fair coin. If the outcome is heads, Rafael gets $10 from Juanita. Otherwise, Juanita gets $10 from Rafael.

(a) How is the game simulated as a Monte Carlo experiment?

(b) Run the experiment for 5 replications of 10 tosses each. Use the first five columns of the 0-1 random numbers in Table 19.1, with each column corresponding to one replication.

TABLE 19.1