Notesale: Turn your study into money

Document Preview

Extracts from the notes are below, to see the PDF you'll receive please use the links above

---

Data Management Summative

~ Get Gs Wheels ~
On


...

 The ball has 3 outcomes, either it drops in either of the spinner or it rolls in
the “cup of shame”
 The spinner has indicated prizes, and the contestant will win based on the result
of where the ball lands within the spinner
...

Note: The more money a player bets with, the bigger prices they can win
...
e
...
e
...
e
...
e
...
e
...
e
...
5(0
...
25(0
...
25) = 0
...
25%
P(money back) = 0
...
5) + 0
...
25) = 0
...
81%
P(win double) = 0
...
5) + 0
...
25) = 0
...
38%
P(+2 tokens) = 0
...
5) + 0
...
25) = 0
...
63%
P(jackpot) = 0
...
25) = 0
...
56%
P(win triple) = 0
...
25) = 0
...
13%
P(extra try pass (ETP)) = 0
...
25) = 0
...
13%
P(double board pass (DBP)) = 0
...
03125 = 3
...
017578125 = 1
...
00244140625 = 0
...
0029296875 = 0
...
0048828125 = 0
...
00048828125 = 0
...
0009765625 = 0
...
0009765625 = 0
...
0009765625 =
0
...
01953125 = 1
...
017578125 = 1
...
00244140625 =
0
...
0029296875 =
0
...
0048828125 = 0
...
00048828125 = 0
...
0009765625 = 0
...
0009765625 =
0
...
0009765625 =
0
...
01953125 = 1
...
6015625 = 60
...
25% + 1
...
95% = 60
...
81% + 0
...
24% = 8
...
63% + 0
...
38% + 0
...
79%
P($4) = P(DBP*+2 tokens (+4)) + P(win triple) + P(ETP*win triple) = 0
...
13% + 0
...
72%

P($6) = P(jackpot) + P(ETP*jackpot) + P(DBP*win double (x4)) = 1
...
05% +
0
...
90%
P($10) = P(DBP*win triple (x6)) = 0
...
10%
P($14) = P(DBP*jackpot (x8)) = 0
...
05%
E(x)= P(Player losing) - (P($2) + P($4) + P($6) + P($10) + P($14))
E(x) = 2(0
...
2579) + 4(0
...
0190) + 10(0
...
0005)] =
$0
...
4076/2 = $0
...
20 for every dollar when a player bets $2
A Play With $5:
P(Player losing) = P(losing without ETP) + P(ETP and losing) + P(DBP and losing) =
56
...
95% + 1
...
16%
P(money back) = P(Money back without ETP) + P(ETP with money back) + P(DBP
with money back) = 7
...
24% + 0
...
29%
Note: The following below is the probability of the house losing and let E(x) stand for expected value

P($2) = P(+2 tokens) + P(ETP*+2 tokens) = 15
...
49% = 16
...
49%
P($5) = P(win double) + P(ETP*win double) = 9
...
29% = 9
...
13% + 0
...
23%
P($15) = P(jackpot) + P(ETP*jackpot) + P(DBP*win double (x4)) = 1
...
05% + 0
...
90%

P($25) = P(DBP*win triple (x6)) = 0
...
05%
E(x)= P(Player losing) - (P($2) + P($4) + P($5) + P($10) + P($15) + P($25) + P($35))
E(x) = 5(0
...
1612) + 4(0
...
0967) + 10(0
...
019) +
25(0
...
0005)] = $1
...
5320/5 = $0
...
31 for every dollar when a player bets $5
A Play With $10:
P(Player losing) = P(losing without ETP) + P(ETP and losing) + P(DBP and losing) =
56
...
95% + 1
...
16%
P(money back) = P(Money back without ETP) + P(ETP with money back) + P(DBP
with money back) = 7
...
24% + 0
...
29%
Note: The following below is the probability of the house losing and let E(x) stand for expected value

P($2) = P(+2 tokens) + P(ETP*+2 tokens) = 15
...
49% = 16
...
49%
P($10) = P(win double) + P(ETP*win double) = 9
...
29% = 9
...
13% + 0
...
23%
P($30) = P(jackpot) + P(ETP*jackpot) + P(DBP*win double (x4)) = 1
...
05% +
0
...
90%
P($50) = P(DBP*win triple (x6)) = 0
...
05%
E(x)= P(Player losing) - (P($2) + P($4) + P($10) + P($30) + P($50) + P($70))
E(x) = 10(0
...
1612) + 4(0
...
0967) + 20(0
...
019) +
50(0
...
0005)] = $3
...
4060/10 = $0
...
34 for every dollar when a player bets
$10
A Play With $20:
P(Player losing) = P(losing without ETP) + P(ETP and losing) + P(DBP and losing) =
56
...
95% + 1
...
16%

P(money back) = P(Money back without ETP) + P(ETP with money back) + P(DBP
with money back) = 7
...
24% + 0
...
29%
Note: The following below is the probability of the house losing and let E(x) stand for expected value

P($2) = P(+2 tokens) + P(ETP*+2 tokens) = 15
...
49% = 16
...
49%
P($20) = P(win double) + P(ETP*win double) = 9
...
29% = 9
...
13% + 0
...
23%
P($60) = P(jackpot) + P(ETP*jackpot) + P(DBP*win double (x4)) = 1
...
05% + 0
...
90%

P($100) = P(DBP*win triple (x6)) = 0
...
05%
E(x)= P(Player losing) - (P($2) + P($4) + P($20) + P($40) + P($60) + P($100) +
P($140))
E(x) = 20(0
...
1612) + 4(0
...
0967) + 40(0
...
019) +
100(0
...
0005)] = $7
...
1540/20 = $0
...
36 for every dollar when a player bets $20
Expected value per dollar bet:
Average gain per dollar bet = ($0
...
3064 + $0
...
3577) / 4
= $0
...
30
Therefore, the house is expected to make an average of $0
...


Game Analysis Summary

~ Get Gs Wheels ~
On

Spinner 1:
½ Zero
⅛ Money Back
⅛ Win Double
¼ +2 Tokens
Spinner 2:
¼ Zero
1/16 JACKPOT!! (4x the bet)


...

Description:
Ball is dropped into the tube and lands on one of four squares each corresponding to
either a spinner or the Cup of Shame
...
Landing on a spinner means the players get to spin the corresponding spinner for
a chance to win
...
2038 + $0
...
3406 + $0
...
302125
= $0
...
30 for every dollar bet
...
When the player places a bet they get to
play and try to win
...
They can also choose to drop it straight in or through an extension in the
form of a toilet paper tube
...
Trying to cheat does
not give you an advantage or higher odds but they do not know that
...
Whenever they inquired about a certain bet we
told them the maximum number of tokens they could win with that bet
...
The chance of winning so much money got a
lot of people playing
...
The chance of winning so
much money also attracted people who were about to leave or were almost out of
tokens
...
The people with almost no tokens left liked going
all in because of the chance they could win a lot of money
...
Just getting far enough to spin one of the
colourful spinners gave most of them enough sense of false achievement to play again
...
They felt like they had won something when they landed on a good
spinner even if they spun a losing number
...
Every now and then someone would
win a lot of money and everyone would see and want to play
...
The fact that it was fun had some people play back to
back rounds
...
It is also very interactive so it will keep people in the casino
...
The expected value is $0
...
The
profitability of this game is off the charts and it alone will be enough for most casinos to
invest
...
Since the game is so interactive players tend to forget that they lost and
only remember that they had fun and almost won a lot of money
...
This thought keeps them playing until they have spent all their money or win a
round
...




---