One day you notice old Sergeant Gossage shaking three dice in his tin cup amidst...
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Accounting
One day you notice old Sergeant Gossage shaking three dice in his tin cup amidst a group of mainly Asian soldiers. Curious, you ask what he is doing, so he introduces you to the gambling game Chuck-a-Luck. In this game, the players place wagers on the outcome of the roll. The three betting options are Triples, Small, and Big:
The Triples bet wins 30-to-1 if the three dice are all the same, so 1-1-1, 2-2-2, 3-3-3, 4-4-4, 5-5-5, and 6-6-6 are the six possible Triples winners.
The Small bet wins 1-to-1 (or even money) if the three dice are not Triples and the sum of the three dice is 10 or less: for example, 2-3-5 is a winner for Small.
The Big bet wins 1-to-1 if the three dice are not Triples and the sum of the three dice is 11 or more: for example, 3-4-6 is a winner for Big.
Note that the three outcomes are mutually exclusive, and that one of them will occur on each roll of the dice. Intrigued, you start playing, but after a few hours you discover that you have lost your entire monthly salary to your old Sergeant. This prompts you to investigate the odds of this Chuck-a-Luck game. You decide to pull out your laptop to write a VBA Sub procedure to simulate n=10,000,000 rolls of three dice and output the number of times the roll is Triples, Small, and Big. Note that each die (die is the singular of dice) contains the numbers 1, 2, 3, 4, 5, and 6, and that each number has an equal probability of occurring.
Hint: Int(6 * Rnd()) + 1 will generate a random integer between 1 and 6 in VBA.
Please place your output for this problem on a sheet named Problem 3 in your Excel Workbook. a. Output the number of Triples, number of Smalls, and number of Bigs. b. Output the percentage of Triples, percentage of Smalls, and percentage of Bigs. c. Why did Sgt. Gossage end up with all your money?
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You can see the logs in the Dashboard.