Question

In: Statistics and Probability

You love Cheetos and Frito-Lay is giving away a free bag of Cheetos every week for...

You love Cheetos and Frito-Lay is giving away a free bag of Cheetos every week for a year if you collect a Chester Cheetah token, a cheese token and fire token. According to Frito Lay, 80% of bags have a cheese token, 15% have a fire token and 5% have a Chester Cheetah token. Conduct a simulation to determine the number of bags of Cheetos you must purchase to win your free Cheetos for a year. Conduct two trials using the random numbers provided.

Trial #1 03242 50692 18977 28370 49873 21901 83622

Trial #2 78695 21402 85525 81183 76520 98012 45983

Solutions

Expert Solution

80% of bags have a cheese token, 15% have a fire token and 5% have a Chester Cheetah token. The probability distribution of the tokens is

Token Probability
Cheese 0.8
Fire 0.15
Chester Cheetah 0.05

The cumulative probability and the random number intervals are calculated as given below (expressed as %s)

Random number intervals
Token Probability Cumulative probability From less than
Cheese 80% 80% 0% 80%
Fire 15% 95% 80% 95%
Chester Cheetah 5% 100% 95% 100%


That is, to simulate the token from each bag of cheetos that you buy, we use the following steps

  • pick 2 digits from the list of random number provided.
  • The Token corresponding to the random number interval in which the 2 digits lie is the token in the bag of cheetos.
    • For example, the first 2 digits are 03 and 03 lies in the interval 0 to 80 and hence the token in the bag is Cheese

We create the following table for trial #1

Random Digits Random number interval Token Bag #
03 0-80 Cheese 1
24 0-80 Cheese 2
25 0-80 Cheese 3
06 0-80 Cheese 4
92 80-95 Fire 5
18 0-80 Cheese 6
97 95-100 Chester Cheetah 7

We can see that we have bought 7 bags of cheetos before we get all the 3 tokes and hence win your free Cheetos for a year.

Trial #2

Random Digits Random number interval Token Bag #
78 0-80 Cheese 1
69 0-80 Cheese 2
52 0-80 Cheese 3
14 0-80 Cheese 4
02 0-80 Cheese 5
85 80-95 Fire 6
52 0-80 Cheese 7
58 0-80 Cheese 8
11 0-80 Cheese 9
83 80-95 Fire 10
76 0-80 Cheese 11
52 0-80 Cheese 12
09 0-80 Cheese 13
80 80-95 Fire 14
12 0-80 Cheese 15
45 0-80 Cheese 16
98 95-100 Chester Cheetah 17

ans:

Trial #1: the number of bags of Cheetos you must purchase to win your free Cheetos for a year is 7

Trial #2: the number of bags of Cheetos you must purchase to win your free Cheetos for a year is 17


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