Calculating casino payout and implementing function to simulate game
Suppose you're running a small casino and looking to introduce a new game. The game will use a simulated 10-sided die and the payout multiples will be as follows:
- Any roll with a value between 1 and 3 will return nothing
- Any roll with a value between 4 and 7 will return 1x the bet (e.g. if one bets $10 and rolls a 5, they'll simply get their money back)
- The multiple for 8 to 10 will need to be calculated, as specified below
As shown above, we're still looking to calculate what multiple we offer gamblers for a roll between 8 and 10. If we want to operate at an expected 25% profit margin, what payout multiple should we use? Once you've calculated the payout multiple, write a simple function that will simulate a large # of dice rolls and confirm your expected profit.
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