Consider the experiment of rolling k fair dice, and let [X.
This is the probability distribution of the sum of two fair dice.
In this paper, we develop a slot game based on five fair dice, and demonstrate how the EV, sd, and VI of a slot game are calculated.
The program TWODICE provided in the Appendix is a slight revision of the program RANDNO that correctly simulates rolling a pair of fair dice
and can be used to determine empirical data for determining these pr obabilities.
Modern Portfolio Theory assumes, unreasonably, that financial decision makers know precisely the probabilities of investment outcomes as if they are rolling a fair dice
," said Menachem Brenner and Yehuda Izhakian, co-authors of Asset Pricing and Ambiguity: Empirical Evidence.