The simulation correspond to the best policy

Assignment Help Basic Statistics
Reference no: EM13540063

1. Simulation

Monty Hall's Three Doors

You are asked to develop a simulation of the Monty Hall Three Door problem. Recall, there are three doors. Behind one is a car and behind two are goats. You choose one of the doors and Monty opens one of the other doors revealing a goat. You are then asked whether you want to change your choice or not. Your goal is to find the car which is behind one of the doors.
You have two decisions to make: which door you believe contains the car and whether you switch or not. You should always choose the same door prior to doing the simulations you will develop. You will then try both decisions regarding switching or not and see which gives you better results-that is, gets you the car more often. The randomness comes about by generating a random number that will correspond to the actual location of the car. Recall, no matter which door has the car, Monty will always be able to reveal a goat behind one of the other doors.
Please do 100 simulations of this problem using excel.
Do you believe the results of the simulation correspond to the best policy? What is the expected number of times you would win the car using the two strategies? Does the simulation back this up?

Reference no: EM13540063

Questions Cloud

Determine rossis total assets as of december : Determine Rossi's total assets as of December 31 and determine the company's total liabilities as of December 31.
Use a test of hypotheses of level alpha = 0.05 : Using this data, is there enough evidence that the average depth of the ice sheet is below 3140 m? Assume that the depth of the ice sheet is normally dstributed. Use a test of hypotheses of level alpha = 0.05.
Prepare the necessary adjusting entries at july 31 : Prepare the bank reconciliation as of July 31 - Prepare the necessary adjusting entries at July 31
Discuss whether the companys first month of operations : Prepare an income statement and a retained earnings statement for the month of June and a balance sheet at June 30, 2010 and briefly discuss whether the companys first month of operations was a success.
The simulation correspond to the best policy : Do you believe the results of the simulation correspond to the best policy? What is the expected number of times you would win the car using the two strategies? Does the simulation back this up?
Prepare the adjusting entry for company : Prepare the adjusting entry for company to recognize bad debts under each of the independent assumptions - Show how accounts receivable and the allowance for doubtful accounts
Journal entries to record the preceding transactions : Prepare journal entries to record the preceding transactions and events. (the company uses the perpetual inventory system. round amounts to the nearest dollar).
Estimate the total frictional force acting on the car : When an automobile moves with constant speed down a highway, estimate the total frictional force acting on the car
Find how far is it from your eyes to the image of your toes : It is 170cm from your eyes to your toes. You're standing 230cm in front of a tall mirror. How far is it from your eyes to the image of your toes

Reviews

Write a Review

Basic Statistics Questions & Answers

  Statistics and death penalty

In November 2009, 65% (0.65) of Americans favored the death penalty for a person convicted of murder. In November 2010, 1025 adult Americans were asked by the Gallup organization,

  World development indicators database

Rresearch analyst in an environmentally-concerned consultancy group. Your team leader has given you a research task to investigate the empirical relationship between Australia's Gross Domestic Product

  Inferences based on sample

A powerful women's group has claimed that men and women differ in attitudes about sexual discrimination. A group of 50 men (group 1) and 40 women (group 2) were asked if they thought sexual discrimination is a problem in the United States.

  Selling the same standardized product

In which of the following markets do all firms sell the same standardized product?

  Sample mean and the orginal population mean

The value of the z score in a hypothesis test is influenced by a variety of factors. Assuming that all other variables are held constant explain how the value of z is influenced by each of the following: (a) increasing the difference b/w the sampl..

  Find the probability that stereo came from company a

From Company B, 850 stereos are purchased and 6% are found to be defective. Given that a stereo is defective, find the probability that it came from Company A.

  Are mean crash damages same for three vehicles

Five test vehicles of each type were crashed, with the results shown below. Research question: Are the mean crash damages the same for these three vehicles?

  Follow poisson distribution with mean of tickets per day

Suppose the number of tickets written per day follows a Poisson distribution with a mean of 6.5 tickets per day. Interpret the value of the mean. The mean has no interpretation since 0.5 ticket can never be written.

  Wilcoxon rank-sum test

Suppose there are two samples of size 6 and 7, with a rank sum of 58 in the sample of size 6. Using the Wilcoxon rank-sum test, evaluate the significance of the results, assuming there are no ties.

  Probability of failiure of alternator in airplane

A plane has two alternators with the probability that a given alternator will fail on a l hour flight is .02. What is the probability that both will fail

  Suppose we drew a histogram

Suppose we drew a histogram of these 18 death rates using class intervals 1 — 1.9, 2 — 2.9, 3 — 3.9, 4 — 4.9 and 5 — 5.9. Using the histogram, we would

  Test of hypothesis-difference of means-anova

The following data show samples of three chain stores in three different locations in one town and the amount of dollars spent per customer per visit. At the 0.05 level, is there a difference among the means?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd