coin brainteaser..please help

dblock21 · Mar 14, 2011, 10:55pm

We each flip three fair coins. I offer to pay you $1 if we do not get the same amount of heads, if you agree to pay me $2 if we do (get the same amount of heads). Will you agree to play this game?

I haven't had prob. in a couple years and can not get my head around this question..any help would be great

arabianights · Mar 15, 2011, 4:22am

well... probability of each getting the same number is 5/16 so I expect to lose $1/16 each time I play so no...

Not to mention it's a really **** game so I would say no anyway

DashRiprock · Mar 15, 2011, 4:35am

I have E(X) = (11/16 * $1) - (5/16 * $2) = +$1/16

so not as bad a game as before but still not great.

mb325 · Mar 15, 2011, 6:33am

Seems like a **** version of this game:

The pot starts at £1.
A fair coin is tossed.
For every head, the pot is doubled.
The game ends when a tail appears - you keep everything in the pot.

How much would you be willing to pay to play this game?

jassaal123 · Mar 15, 2011, 6:57am

Thanks for given these info to all members dear friends,

mb325 · Mar 15, 2011, 7:01am

I make it 5/16 chance to get the same amount of heads, so 11/16 a different amount.

E(X) = 1(11/16) - 2(5/16) = +$1/16 expectancy.

Quote:

Originally Posted by DashRiprock

so not as bad a game as before but still not great.

That depends how many times you play it :P

arabianights · Mar 15, 2011, 7:08am

Quote:

Originally Posted by mb325

Seems like a **** version of this game:

The pot starts at £1.
A fair coin is tossed.
For every head, the pot is doubled.
The game ends when a tail appears - you keep everything in the pot.

How much would you be willing to pay to play this game?

That's st petersburg paradox no?

wackypete2 · Mar 15, 2011, 7:21am

REAL brain teaser...
How much head do I get for my $?

Peter

Mar 14, 2011, 10:55pm	#1
dblock21 New Member Member Since Mar 2011 4 Posts	coin brainteaser..please help We each flip three fair coins. I offer to pay you $1 if we do not get the same amount of heads, if you agree to pay me $2 if we do (get the same amount of heads). Will you agree to play this game? I haven't had prob. in a couple years and can not get my head around this question..any help would be great

Mar 15, 2011, 4:22am	#2
arabianights Legendary Member Member Since Jan 2007 6,782 Posts	Re: coin brainteaser..please help well... probability of each getting the same number is 5/16 so I expect to lose $1/16 each time I play so no... Not to mention it's a really ** game so I would say no anyway __________________ World's leading STIRs chatroom** - www.propboards.com - register, then click on chat. Don't let the lack of posts on the forum put you off - the action happens in the chatroom. Targeted at locals, but hedge funds, brokers (including IDBs), market makers, and a few sizable amateurs are all represented. When it's quiet, banter is encouraged and anything goes. No nuisance spread betters please. Anyone else welcome.

Mar 15, 2011, 4:35am	#3
DashRiprock Banned Member Since Jan 2011 1,669 Posts	Re: coin brainteaser..please help I have E(X) = (11/16 * $1) - (5/16 * $2) = +$1/16 so not as bad a game as before but still not great.

Mar 15, 2011, 6:33am	#4
mb325 Senior Member Member Since Jun 2008 362 Posts	Re: coin brainteaser..please help Seems like a **** version of this game: The pot starts at £1. A fair coin is tossed. For every head, the pot is doubled. The game ends when a tail appears - you keep everything in the pot. How much would you be willing to pay to play this game?

Mar 15, 2011, 6:57am	#5
jassaal123 Rookie Member Member Since Mar 2011 9 Posts	Re: coin brainteaser..please help Thanks for given these info to all members dear friends,

Mar 15, 2011, 7:21am	#8
wackypete2 Legendary Member Member Since Sep 2008 9,000 Posts	Re: coin brainteaser..please help REAL brain teaser... How much head do I get for my $? Peter __________________ ************************************************ ***************** I'm not into Fundamentals. I'd trade anything for T & A ********************************************** *******************

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