Suppose you only have 50 cents in your pocket and you want to buy an ice cream c

Question

Suppose you only have 50 cents in your pocket and you want to buy an ice cream cone. The owner of the ice cream shop offers a random price determined as follows: You roll a pair of fair 6-sided dice and the price is the larger number followed by the smaller number (in cents). Let's use a computer simulation to estimate the probability of affording the ice cream. Using a computer program called R, we could simulate this scenario using the following code: Code: d1 = sample(1: 6, 10000, replace=TRUE) d2 = sample(1: 6, 10000, replace=TRUE) price = 10*pmax (d1, d2) + pmin(d1, d2) afford = (price

Explanation / Answer

a) The best estimate of the probability that would afford the ice cream cone is 4419/10000 = 0.4419

b) P1 = 4361/10000=0.4361
p2 = 4592/10000=0.4592
p3 = 4461/10000=0.4461
As per three probabilitites, p1, p2, p3 going to 0.4461
So Answer: 0.4461

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