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Estimate the probability of rolling two six-sided dice

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Reference no: EM132415854

Exercises

Exercise #1: Estimate the probability of rolling two six-sided dice and having the sum of the two dice be equal to 7.

Exercise #2: In a normal distribution with a mean of 50 and a standard deviation of 12, estimate the probability that a randomly-selected value from the distribution will be greater than 60.

The purpose of this is to practice using Monte Carlo simulations, so please use a simulation for all the exercises

If using Excel please use at least 5,000 iterations in your simulations. If using R please use at least 50,000 iterations in your simulations

Reference no: EM132415854

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