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Project 11: Coin Flip Casino

You are going to flip a coin and bet on Tails coming up :O)  You start with a $10 bet and will double your bet if you lose, once you win you revert to the $10 bet.  This guarantees you a profit!!!  Follow the steps below to recreate this worksheet:

coin flip

  1. If someone asked you to predict the maximum number of heads in a row when a coin is flipped 10,000 times, what would you guess?
  2. Your first bet is simply $10 in cell B2, then in cell B3 you must enter an IF function which outputs $10 if the previous FLIP was Tails else it doubles the previous BET. What is this IF function?
  1. What IF function is typed into cell C2? Enter this and fill down for 10,000 flips.
  2. Spend 5 minutes trying to determine how you can track the # Heads in a Row?
  1. In cell D3 what would the function, IF( C3 = “T”, 0, D2+1 ) do? What needs to be typed into cell D2?
  2. In cell E2 what IF function will output $10 OR -$10 depending on whether the first flip is Tails or Heads?
  3. In cell E3 your winnings will either ADD or SUBTRACT your BET from the previous WINNINGS. What IF function will do this?
  4. What effect does doubling your bet every time you lose have?
  5. What is the MAX # of heads in a row for 10,000 flips? MAX bet?  MAX winnings?  Hit the COMMAND and = keys (on a PC just hit F9) to reflip all 10,000 coins over and over and over…
  6. Can you explain why the MAX Winnings is always close to $50,000?
  7. If someone asked you to predict the maximum number of heads in a row when a coin is flipped 10,000 times, what would you guess?

 

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