This assignment is a warmup for all the subsequent simulatio

This assignment is a warm-up for all the subsequent simulations. Imagine you have a miniature roulette wheel where the possible outcomes are 0, 1, 2, 3, 4, 5, 6, 7, 8 and 9. Thus there are 10 possibilities and each has a 1/10 chance of occurring. Suppose you spin the roulette wheel 100 times. The results could be something like this: 3, 6, 0,4, 4, 9, 2, 3 ….

What do you suppose the average will be? Since the lowest number you can get is 0 and the highest is 9, the average should be very close to the middle, i.e., 4.5 (0+9)/2=4.5

What do you think the standard deviation will be? It is difficult to guess this result, but by a formula you will learn in chapter 5 it should be 2.87.

What do you think a histogram of these results will look like? Since each number

(0-9) should show up as often as any other, the histogram should be “uniform” with no pronounced bump.

There are 7 parts to this assignment. Please label them in your WORD DOC report (NOT EXCEL file) to me as Part 1, Part 2, etc.

Part 1:

In Excel there is a function which generates random integers between any two points. If you type into the A1 cell the Excel formula (by using “=”) Randbetween(0,9) the computer will fill that cell with a 0 or 1 or 2…or 9 with 1/10 probability. By copying (by dragging on the corner of the cell) that formula into the cells A2, A3, A4…A100 you will get a column of random numbers that look like, for example: 3, 4, 9, 6, 6, 0, 5…etc. Show me that list of numbers.

Part 2:

Have Excel calculate the mean or average of this column of numbers

Part 3:

Have Excel calculate the standard deviation of this column of numbers

Part 4:

Have Excel produce a histogram of this column, using the 10 intervals: 0-1, 1-2, …8-9

Part 5:

Comment on your results parts 2, 3 and 4. Did the three results look as expected?

Part 6:

Redo parts 2, 3, and 4 but this time use 1000 spins of the roulette wheel. (I.e, copy the Randbetween formula1000 times.)

Part 7:

Comment on how and WHY your results in parts 2, 3 and 4 differ from those in part 6. Please be explicit about why you would expect this.

Solution