Lesson 16: Automated Simulation

October 22, 2020

Review:

  • Lucky 7
  • Financial outcome

Presentation:

Assignment:

  • Replicate the “Lucky 7” simulation with automation
    • Experiment with different Payoff Odds values (in cell K2)
    • What payoff odds would you suggest the Casino owner use to maximize revenue?
  • Simulate Chuck-a-luck where the player rolls 3 dice
    • Here are the rules
    • Apply the following simplifying assumptions
      • If sum of 3 dice >10, player wins the “Big” (1 to 1 odds)
      • If the roll is three of a kind, player wins “Any Triple” (30 to 1 odds)
      • All other outcomes, player loses the bet
    • Don’t worry about the financial component
    • Only simulate the game to determine wins and losses
  • Submit Assignment 7 here

Justin

Justin Holman is CEO of Aftermarket Analytics, where he leads efforts to develop cutting edge sales forecasting and inventory optimization technology for the Automotive Aftermarket. Prior to joining Aftermarket Analytics, Justin managed corporate consulting for the Strategy & Analytics division at MapInfo Corporation, leading major projects for retail clients including The Home Depot, Darden Restaurants, Bridgestone-Firestone, Sainsbury’s and New York & Company. Before that, Justin served as Vice President of Software Development at LogicTools, now part of IBM's supply chain application software group. Justin holds a B.A. from Claremont McKenna College, a Ph.D. from the University of Oregon and an Executive Management certificate from Northwestern University's Kellogg School of Management.

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