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Probability and Game Theory in Assignments

STA1DCT Assignment 5 Assignment 5 is due no later than 11:59pm Friday the 19th of May, 2023. You must submit your assignment electronically and as a single file via the LMS page for this subject. Where appropriate, your solutions must include your workings. In submitting your work, you are consenting that it may be copied and transmitted by the University for the detection of plagiarism. Please start with the following statement of originality, which must be included near the top of your submitted assignment: "This is my own work. I have not copied any of it from anyone else." IMPORTANT NOTE 1: The total possible marks for this assignment is 50. There are 40 marks associated with accuracy (i.e. correctness of your answers; the breakdown of these marks is indicated on this question sheet), a further five marks for completeness (you will only get the full five marks for completeness if you make a serious attempt to answer every question) and a further five marks for your written communication (e.g. clarity, spelling, grammar, correct use of notations etc.) STA1DCT: 40 + 5 + 5 = 50 marks. IMPORTANT NOTE 2: When you are asked to calculate an answer by hand, you may still use your calculator for basic calculations (e.g. multiplication, division, taking a square-root etc.), however your workings should show that you now how a formulae or process works. 1. Suppose that a friend gives us the chance to participate in a game. The game is as follows. There is a bucket containing 22 red tokens, 18 green tokens and 10 purple tokens. We are to blindly reach into the bucket and randomly choose one token. Keeping this token (i.e. the chosen token is not returned to the bucket) we are to once again reach in blindly and randomly retrieve another token. If the first token we have chosen is red and the second is green then we win the game. Otherwise we lose. Define the two events below as follows: · R1 = first token selected is red. · G2 = second token selected is green. (a) What is P(R1)? (b) In words, explain what the event G2|R1 is. (c) What is P(G2|R1)? (d) What is P(R1 and G2)? Show your workings. (4 marks) (4 marks) (4 marks) (4 marks) (e) Suppose that you would like to decrease the probability that you win the game where you propose the same number of red tokens (22 red tokens) and green tokens (18 green tokens) to be used but with a new total number of purple tokens. You would like your probability of winning the game to be at most 0.10 (i.e. P(R1 and G2) ? 0.10). Use Excel to calculate the smallest number of purple tokens needed to achieve this? What is the smallest number of purple tokens needed to achieve this? Explain very clearly how you obtained your answer. (4 marks) NOTE: You must be very clear how you obtained your answer. That is, whoever reads your answer