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Exercise

Exercise 9. American Roulette Monte Carlo again

Create a Monte Carlo simulation that generates 10,000 outcomes of \(S\), the average outcome from 10,000 bets on green.

Compute the average and standard deviation of the resulting list to confirm the results from previous exercises using the Central Limit Theorem.

Instructions

100 XP
  • Use the replicate function to model 10,000 iterations of a series of 10,000 bets.
  • Each iteration inside replicate should simulate 10,000 bets and determine the average outcome of those 10,000 bets. If you forget to take the mean, DataCamp will crash with a "Session Expired" error.
  • Find the average of the 10,000 average outcomes. Print this value to the console.
  • Compute the standard deviation of the 10,000 simulations. Print this value to the console.