I need to design a game that would be played at a carnival a

I need to design a game that would be played at a carnival, amusement park, or casino (one that does not already exist). I must be able to explain the probability.

1) the game must have a random variable and come up with the probability distrubution for the game, accounting for all possible outcomes.

2) The expected value must be calculated and standard deviation of the random variable.

3) Determine if the game is fair, use expected value to support the claim.

4) If the game is not faie, determine what you would have to charge in order to make the game fair. Verify that the change will indeed make the game fair.

I am totally stumped by this so any help is appreciated!!

Solution

I\'m not entirely sure, but this exercise should be designed based on the theory of games and decisions in the field of operations research, for example could you raise a simple game, like playing rubber ducks floating for kids, is Selects a number of ducks with small prizes, while a lower probability is left with great prizes, for it must think of the matrix game theory, it can be binomial probability with which one could develop this. Hope you an idea about internet searches and carnival games are designed as veres. if you do not write me to imagine any help with a simple game