I discussed random variables,discrete probability distributions and expected values in my data analysis class last week. After the mundane definitions and examples, I threw at them, a variant of the gamblers ruin idea and asked them if they would be willing to bet their money on it. The idea goes like this:
I have a coin toss game where I give you 2 times your bet if you win and nothing if you lose. Assume we have a fair coin, would you play the game with me and bet your money? If you will, then what is your strategy, assuming you are in it to win...
They have all weekend to decide. On Monday, I will discuss Bernoulli trails and Geometric Distribution. Here are some gambler's ruin ideas.
I have a coin toss game where I give you 2 times your bet if you win and nothing if you lose. Assume we have a fair coin, would you play the game with me and bet your money? If you will, then what is your strategy, assuming you are in it to win...
They have all weekend to decide. On Monday, I will discuss Bernoulli trails and Geometric Distribution. Here are some gambler's ruin ideas.
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