Brain Teasers
Gamble'n
You have $6.20 and are in a casino with a certain game with a 50-50 chance exactly of winning. In 5 bets, what are your chances of winning $.20?
(P.S. Forget weighted value and losing all your money!)
(P.S. Forget weighted value and losing all your money!)
Answer
Your chances of winning are 96.875%.This is possible by on your first bet, bet 20 cents. If you lose, bet 40 so you make up for the 20 you lost and get 20 more. Then go to 80, slowly doubling you inputs until you reach $3.20. You then have a 3.125% chance of losing.
This is basically 50% * 50% * 50% * 50% * 50% = 3.125% chance of losing.
Don't do this in a real casino, because with weighted-value, in the one situation you lose, you lose all your money!
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