Project is a computer simulation to play a million events of a simple game. Each event consists of drawing a ticket from a hat that contains 3 winning tickets and 2 losing tickets. And for each event a bet is made. Begin with a bet of $1000. If a winning ticket is drawn, increase the next bet by $5, and if a losing ticket is drawn, decrease the bet by $8. And continue this way for all bets of $1000 or higher. For all bets that fall below $1000, (which will happen if more losing tickets have been drawn), the amount to be decreased is different. On bets of less than $1000, if a winning ticket is drawn, increase the next bet by $5, and if a losing ticket is drawn, decrease the next bet by $7. The purpose in playing this betting strategy a million times is not so much to determine whether it will win or lose at this game in the long run, but rather to get a STATISTICAL PRINTOUT of the number of wins and losses at every amount bet. One final thing: In the statistical printout, I need to know the amount of the last (the millionth) bet made in every run of a million events.
It would be nice to have the option to change the game and betting strategy to experiment with other possibilities, but that is not necessary.
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Hey, I could make that simulation in Matlab and provide you the needed information. In case you prefer any other software please let me know. I will be happy to work on your interesting task. Best, Iva
I work with Matlab, and I am a Teaching Assistant in the Industrial Engineering Faculty in my University. I teach Industrial Statistics and Design of Experiments