During Christmas holidays, you visit a casino with some of your friends. At one table, you come across a coin flip game. The rules are very simple for this game unlike Blackjack game.
Flip a coin, heads you win $100, tails you lose $50.
You don't like to gamble and you had also declared this before entering the casino.
What is your plan to play now?
Photo Adaptation /Flickr/59937401@N07
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Twinkar
Tue, Dec 22nd 2015 at 4:49 AM
I would play forever as probability dictates that each coin toss is independently, equally likely to be heads or tails
As I tend to a larger number of tries
Roughly half the number of times I will win $100 and remaining half, I will lose $50
So for example
1000 tries
500 times heads
500.100=50000 gained
500 times tails
500.50=25000 lost
Net
50000-25000
25000 gained
1000000 tries
500000 times heads
500000.100=50000000 gained
500 times tails
500000.50=25000000 lost
Net
50000000-25000000
250
Do you enjoy solving complex problems? Are you a critical thinker? Can you think differently about a situation and develop new ways of understanding. Do you enjoy experimenting and creating something new? Do you challenge the status quo?
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