Exercise #10

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October 25, 2013 at 4:40 pm  •  Posted in busad265 by  •  4 Comments

Due Tuesday, October 29th

Part 1: Solve the following probability problem.

  • You are playing blackjack. The dealer is using only 1 deck of freshly shuffled standard playing cards. You are the only player at the table.
  • The dealer must “Stand” (not take another card) at 17 or higher and must “Hit” (add a card to his hand) at 16 or lower.
  • You were dealt a 3 and a 4 of diamonds.
  • The dealer is showing a 6 of spades. The other card is face down (unknown).
  • It’s your turn and you decide to “Hit” and receive another 4, this one clubs.
  • You decide to “Hit” again and receive an 8 of hearts.
  • Your total is now 19 (3, 4, 4, 8) and you decide to “Stand”.
  • Now it’s the dealer’s turn.

Q1. What is the probability that the dealer will bust (go over 21)?

Q2. What is the probability that you will win the hand?

Show your work!  I’m more interested in how you approach and work through the problem than I am about the accuracy of your answer. If you simply write down a % and turn it in, even if the % is correct, you will not receive full credit.

Part 2: Clean up your property data. 

  • Download this consolidated set of Pueblo Real Estate data in Excel format: PuebloRealEstateData_Final
  • Check all property records with your PID.
  • Are all the values accurate?
  • Do you have 30 records without duplicates?
  • Are they single-family properties (not vacant lots, mobile homes, apartments, etc.)?

This part of the Exercise will be graded and is worth 30 points, 1 per “good” property record. By good I mean it’s a legitimate address in the correct (assigned) neighborhood and the values accurately reflect the data in the Pueblo County Property database.  See the Property Data Entry Guidelines for details.

4 Comments

  1. Shanelle / October 28, 2013 at 8:44 pm / Reply

    how to we turn the data records back into you after we have fixed them

    • justinholman / October 28, 2013 at 9:13 pm / Reply

      Good question – thanks, Shanelle! Please email to Becky @ bw.kirembu@colostate-pueblo.edu.
      IMPORTANT: please be sure that your worksheet includes all 30 properties formatted just like the one I posted. And, be sure the data is accurate!

  2. justinholman / October 29, 2013 at 12:45 am / Reply

    The probability problem is very difficult. And that’s the point – I want you to really think. Hint: you need to explain how you might arrive at a sample space (denominator) and the number of occurrences (numerator) for both Bust and Win scenarios. Good luck!

  3. justinholman / October 29, 2013 at 12:47 am / Reply

    Just try your best to come up with a framework for a solution. Describing your framework or approach will be sufficient to get a good grade on the exercise.

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