Question

In your group, use the “replicate(n, ‘Experiment’)” function to simulate the result of making this gamble 100,000 times. Use your results to complete the frequency distribution and relative frequency distribution below.

> table(Sim1)

Sim1

    2       3          4     5          6       7         8

6216 12674 18702 24978 18552 12678 6200

Please help with the problem below using the information above

1.The law of large numbers tells us that “in the long run” the relative frequency of an event will tend towards its probability. Use your knowledge of probability to calculate the probability distribution for this gamble.

Probability Distribution
X	P (X)
2
3
4
5
6
7
8

a.Use your table to compute the expected value of this gamble. Interpret the expected value in this context.

Answer 1