The game of blackjack (sometimes called 21) is a popular casino game. The goal is to have
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Managerial Report
Prepare a report for the professional gambler that summarizes your findings. Include the following:
1. At some casinos, the dealer is required to stay (stop taking hits) when the dealer hand reaches soft or hard 17. A hand of soft 17 is one including an ace that may be counted as 1 or 11. In all casinos, the dealer is required to stay with soft 18, 19, 20, or 21. For each possible up card, determine the probability that the ending value of the dealer’s hand is 17, 18, 19, 20, 21, or broke.
2. At other casinos, the dealer is required to take a hit on soft 17, but must stay on all other hands with a value of 17, 18, 19, 20, or 21. For this situation, determine the probability of the ending value of the dealer’s hand.
3. Comment on whether the house rule of staying on soft 17 or hitting on soft 17 appears better for the player.
Dealer
A dealer in the securities market is an individual or firm who stands ready and willing to buy a security for its own account (at its bid price) or sell from its own account (at its ask price). A dealer seeks to profit from the spread between the...
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Related Book For
Quantitative Methods for Business
ISBN: 978-0324651751
11th Edition
Authors: David Anderson, Dennis Sweeney, Thomas Williams, Jeffrey cam
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