Crystal Ball Simulation
The game of Chuck-A-Luck is played as follows.
You pick a number between 1 and 6 and toss three dice. If your number does not appear, you lose $1. If your number appears x times, you win $x.1 On average, how much money do you win or lose on each play of the game?
How would I build a Crystal Ball model for the problem. I am struggling with creating the static model of this game and also how to define the assumptions for this simulation. Please simulate 20,000 trials. (6 points)
[Hint] I don't think it matters whether you pick 1 or 2 or 6. Just assume you picked 1.
The game of Chuck-A-Luck is played as follows.
You pick a number between 1 and 6 and toss three dice. If your number does not appear, you lose $1. If your number appears x times, you win $x.1 On average, how much money do you win or lose on each play of the game?
How would I build a Crystal Ball model for the problem. I am struggling with creating the static model of this game and also how to define the assumptions for this simulation. Please simulate 20,000 trials. (6 points)
[Hint] I don't think it matters whether you pick 1 or 2 or 6. Just assume you picked 1.
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