Use simulation to approximate the probability that I will pay for your ice cream cone. Also provide a [math]\frac{1}{\sqrt{N}}[/math] error bound for this approximation.
Does this probability appear to be greater or less than one-half? Is this consistent with your guess about whether it’s more likely than not that I will pay for your ice cream cone?
Use simulation to approximate the probability that you will eat an ice cream cone, either because you can afford it yourself or because I pay for it. Also provide a [math]\frac{1}{\sqrt{N}}[/math] error bound for this approximation.