Hi,
For my business math class, there is a project which I have no clue how is the easiest way to approach it. I will post the credentials below and hopefully someone can pinpoint me in the right direction.
I am not fond of people asking for answers, but this is so stumping I have no way to start without loosing hope.
Requirements:
Only using standard six sided dice and/or a standard deck of playing cards, create a casino game that has all of the following characteristics:
1.The expected value is within one standard deviation of the mean (so you must calculate both the standard deviation and expected value for your game).
2. The expected value is in the favor of the house.
3. When you play it many times (the means you must play it at least 20 times) your values are consistent with Chebyshev's Rule.
You are expected to post instructions for your game so others from the class may play it. Give a report on your calculations and show that your game satisfies the three conditions above
I hope someone can help, It is greatly appreciated!!!!
For my business math class, there is a project which I have no clue how is the easiest way to approach it. I will post the credentials below and hopefully someone can pinpoint me in the right direction.
I am not fond of people asking for answers, but this is so stumping I have no way to start without loosing hope.
Requirements:
Only using standard six sided dice and/or a standard deck of playing cards, create a casino game that has all of the following characteristics:
1.The expected value is within one standard deviation of the mean (so you must calculate both the standard deviation and expected value for your game).
2. The expected value is in the favor of the house.
3. When you play it many times (the means you must play it at least 20 times) your values are consistent with Chebyshev's Rule.
You are expected to post instructions for your game so others from the class may play it. Give a report on your calculations and show that your game satisfies the three conditions above
I hope someone can help, It is greatly appreciated!!!!