Take A Chance, Roll the Dice, or Pay the Price

Team JJ

Description of Game

• Pay $10 to play each game• Roll two dice– Roll total of 8, win $20– Roll total of 4, win $30– Roll total or 2 or 12, win $60– Roll anything not totaling 2, 4, 8, or 12, win

nothing

Theoretical ProbabilityMean:20 (7/36)+ 60 (2/36)+ 30 (3/36)+ 0 (24/36)=9.72Average House Advantage= +$0.28 each time played

Standard Deviation:

Remember!Roll total of 8, win $20Roll total of 4, win $30Roll total or 2 or 12, win $60Roll anything not totaling 2, 4, 8, or 12, win nothing

Experimental Probability

• Found mean and standard deviation using 1-VAR STAT on calculator

• Mean: $9.60 ($10.00-$9.60=+$.40 house advantage)

• Standard Deviation: $17.77Remember!Roll total of 8, win $20Roll total of 4, win $30Roll total or 2 or 12, win $60Roll anything not totaling 2, 4, 8, or 12, win nothing

Results

• The experimental game trial had a higher house advantage by $0.12

• The results from the experimental game had a higher variability (standard deviation) than in the theoretical game

• In order to improve the game, we could tweak the numbers in order to slightly decrease the house advantage. This would then make the game more appealing to the players