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>>Is the question frased correctly? surely if you pay less than $2 to play, you are guaranteed to win everytime.--[[User:Tsnowdon|Tsnowdon]] 01:31, 4 December 2008 (UTC) | >>Is the question frased correctly? surely if you pay less than $2 to play, you are guaranteed to win everytime.--[[User:Tsnowdon|Tsnowdon]] 01:31, 4 December 2008 (UTC) | ||
| − | I added the payment line at the beginning. You have to pay him a certain amount (like 1000 dollars) to start.--[[User:Norlow|Norlow]] 10:32, 6 December 2008 (UTC) | + | |
| + | I added the payment line at the beginning. You have to pay him a certain amount (like 1000 dollars) to start. The goal is to figure out the '''most''' you would pay--[[User:Norlow|Norlow]] 10:32, 6 December 2008 (UTC) | ||
Latest revision as of 06:33, 6 December 2008
So, there is this Carnie (small hands, smells of cabbage) that devised this new game at the carnival and wants to cheat you out of your money. You go to play this game. The game works as such:
You pay him a certain amount before you start flipping the coin.
The first round you flip a fair coin. If it comes up heads, you get paid $2. However, if it lands tails, you are allowed to go to the next round.
The second round works the same as the first. If it comes up heads, you get paid *$4*. But if it lands tails, you go on to the next.
The third round pays $8 dollars and so on.
If you were allowed to play this game as many time as you wanted, what is the maximum you would pay to start the game? (What is the average payout?)
. How do you loose money in this game if all you do is go to the next round, or is that not relevant?
>>Is the question frased correctly? surely if you pay less than $2 to play, you are guaranteed to win everytime.--Tsnowdon 01:31, 4 December 2008 (UTC)
I added the payment line at the beginning. You have to pay him a certain amount (like 1000 dollars) to start. The goal is to figure out the most you would pay--Norlow 10:32, 6 December 2008 (UTC)
