Stat 2524 Name: Quiz 6 (Take home) Due: 11/5/15 1. (10 points

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Stat 2524 Quiz 6 (Take home) Due: 11/5/15 Name:

1. (10 points) Please list the dataset you have chosen for the final project.

2. (20 points) What do you think are important factors for prediction your quantities of interest (sales and customers for the retail problem and bicycle usage for the bike problem)?

3. (35 points) Describe the Monty Hall problem.

Stat 2524 Quiz 6 (Take home) - Page 2 of 2 Due: 11/5/15 4. (35 points) Devise a Monte Carlo procedure to simulate the probability of winning the prize when switching doors. Explain your procedure in plain English or pseudocode below.

5. (10 points) Extra Credit. Assume a variant of the Monte Carlo problem has 5 doors, 3 of which have goats and 2 have cars. After you select a door, the gameshow host shows you a door with a goat behind it and offers you the chance to switch doors.

(a) (5 points) What is the probability of winning if you do not switch doors?

(b) (5 points) What is the probability of winning if you do switch doors?

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