How Do I Run This Applet?

This activity allows the user to experiment with different probabilities and payoffs for two people buying stocks, repeating the experiment up to 100 times.

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Controls and output

• To set each player's probability of winning, type the probabilities (in decimal form) in the Enter the probability to win in a single game [___] spaces. Here the probability of the first player winning is .5, and the probability of the second player winning is .3:
  

• To set each player's payoff in case the player wins, type the amount of the payoff (in decimal form) in the Enter the payoff in a single game [___] spaces. Here the payoff for the first player is 10, and the payoff for the second player is 20:
  

• To set the number of games simulated in one run of the program, type the desired number of games in the Calculate the game for [___] times space. Here the number of games is 1000:
  

• To run the simulation, click on the Calculate button. Each click adds data for as many games as was set to be simulated in one run of the program:
  

• To have the software check your estimation of the expected value for the first player's average payoff in one game, type the expected value in the Expected value for Player 1 (rounded to two decimal places): [___] space:
  

• Then click on the Check #1 button:
  

• To have the software check your estimation of the expected value for the second player's average payoff in one game, type the expected value in the Expected value for Player 2 (rounded to two decimal places): [___] space:
  

• Then click on the Check #2 button: