Bonanome | OL50 | Spring 2021

Category: Course Activities (Page 1 of 2)

OpenLab Assignments 4, 5 & 6

The last 3 OpenLab assignments for the semester will be parts of your group project work:

  • OpenLab Assignment 4: Project Prospectus Summary email due Sunday 4/18/2021 at 5 pm: This summary is to be submitted as a group, everyone in the group will receive the same grade for this assignment. For more details, see here.
  • OpenLab Assignment 5: Data Collection and Analysis Plan Sunday 5/2/2021 at 5 pm: This raw data and plan for analysis is to be submitted as a group, everyone in the group will receive the same grade for this assignment. For more details see here.
  • OpenLab Assignment 6: Individual Report Draft due Friday 5/7/2021 at 5 pm: This report draft is to be submitted by each group member separately. Everyone must write their own report draft and use their own words, although you may be writing about (and including in your report) the same graphs and statistical findings. Grades will be given individually. For more details, see here.

OpenLab Assignment 3

Please note: We will discuss this assignment in class on Thursday 3/18.2021.

Go to the NY Lottery website and pick one game you would like to analyze. For games which have a current Jackpot amount posted – refer to that Jackpot amount as you do this assignment. (Games such as scratch-offs have fixed prizes which do not change.)

Refer to the odds and prizes posted for your game as you calculate the expected winnings. Probabilities are posted as odds – so an odds of 1 in 10 is the same as a probability 0.10. Keep in mind “winnings” are equal to prize money minus the cost of a ticket.

Please show all work. Make sure you create a table to keep track of the values of your random variable (possible winnings) along with their associated probabilities. This will help you to compute the expected value of the winnings for your game.

For an example, refer to the WINFALL lottery calculation we did together in class. No need to calculate the probabilities for your game, however, as they are given to you on the lottery website.

Please submit your assignment as an Excel file via Blackboard. I have created an assignment called “OpenLab Assignment 3” which is available under “Content.”

In order to receive credit, you must submit this assignment by uploading your Excel file to Blackboard. Please do NOT submit this assignment via email as you will not receive credit for it. If you have questions as to how to submit this assignment, please plan ahead and contact me in advance for help. Do not wait until the last moment as the assignment will close.

This assignment is due Friday 4/2/2021 at 5 pm.

OpenLab Assignment 2

Refer to your OpenLab Assignment #1 and answer the following questions:

  1. What company did you create your predictive model for?
  2. What was the 3/5/2021 stock price you predicted for your company using your model?
  3. What was the actual stock price of your company on 3/5/2021.
  4. Was there a difference between your prediction and the actual price? If so, what was it?

Please respond by writing a comment on this post – once it is “approved” you will receive credit. Please make sure you are a member of this site in order to view your grade in the course gradebook (the gradebook can be found as a widget in the right hand column menu at the bottom).

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