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 CAS 3 - specific material Please keep posts regarding material common to both exams in the upper forum

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#1
11-02-2005, 11:08 AM
 azaremba Member Join Date: May 2005 Location: Chicago Posts: 95
Gambling at the Horse Track

OK,

I got the answer that I believe is either right or too obvious and wrong, it was 13/60. That is just adding out of 60 attempts, there were 2*3 plus 1*7...

Someone please agree here? I am not so worried b/c I figured to do poorly on Stats but getting this one right helps.
#2
11-02-2005, 11:13 AM
 NewTubaBoy Member CAS Join Date: Jul 2004 Location: Boston Studying for CAS 8 Favorite beer: Blue Moon Posts: 1,391

I think everyone believes they did poorly on the stats.
#3
11-02-2005, 11:17 AM
 sticks1839 Member CAS AAA Join Date: Jul 2005 Posts: 1,159

It did seem too obvious, but I got the same answer and here's why.

I looked at it as a method of moments of a binomial with M fixed at 60. So the expected amount correct would be M*p = X and we knew both X and M. p = X/M = 13/60. Let me know if that makes sense.
#4
11-02-2005, 11:25 AM
 seabass Member Join Date: Apr 2005 Posts: 1,736

I got the same answer. Same reasoning, same worry that it seemed way too obvious.
#5
11-02-2005, 11:33 AM
 Turkey Club Member CAS Join Date: Oct 2005 Studying for CAS Exam 9 Favorite beer: Corona Posts: 367

I am pretty sure 13/60 is the correct answer.
#6
11-02-2005, 11:39 AM
 seabass Member Join Date: Apr 2005 Posts: 1,736

Just had it double checked using MLE - definitely 13/60.
#7
11-02-2005, 11:48 AM
 roark Member CAS Join Date: Feb 2004 Location: Right by the airport Favorite beer: Wailing Wench Posts: 238

I concur, A. 13/60
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#8
11-02-2005, 11:58 AM
 QMO Member CAS Join Date: Jan 2005 Location: Iowa Studying for Qualifiers College: Several, teacher and student Favorite beer: I like milk (2% preferred). Posts: 10,607
Or Else

If it's not 13/60 it's a broken question. (IMO)

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