AA Hat Answers
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Rule 1 red markers: 1
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Rule 1 blue markers: 4
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Rule 2 red markers: 2
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Rule 2 blue markers: 3
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Number of actual draws depends on what happens in the simulation
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Red drawn on average: 1
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Is the number equal--depends on what happened in the simulation
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Should it be exactly the same: Not necessarily (but it is possible)
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What does this mean: We are only approximating frequency and probabilities by looking at a short number of draws, which can lead to errors
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What can we do: If we only have a short number of years, we can work to put bounds on the levels of errors that exist, and try to design programs that are robust to these errors.
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Do we need to be careful: YES! Probability theory says there is about a 1/3 chance of not seeing red with 5 draws, and about a 1/5 chance that it will be drawn 5 times, so depending on only 5 years to decide what the 1 out of 5 event is is only a rough approximation!