that maximizes your expected winnings?
2007-01-28 14:36:48 · 5 answers · asked by Anonymous in Games & Recreation ➔ Gambling
Guywhoneedshelp: Math wasn't your forte, was it..
2007-01-28 15:22:42 · update #1
IThe issue is really one of risk tolerance. The offers that are given are below the expected value of the remaining cases. In that sense, the optimal way to play is to never take the deal, since it is less than your expected take from the remaining cases.
However, there are situations where "locking in" an amount is more worthwhile to you than risking it. For example, say you had two cases left, and they were $1 and $1,000,000. If the offer was for $450,000, then the optimal decision is to decline the offer (since your EV for continuing is $500,000). However, the difference between $1 and $1,000,000 is huge to you, and you may not want to risk it. If eliminating risk is worth $50,000 to you, then take the deal.
2007-01-29 05:39:19 · answer #1 · answered by Sanjay M 4 · 0⤊ 0⤋
True, it is about guessing, but I would say the best result on average would be to stop when there is only one value left that is above the offer given.
2007-01-28 21:31:51 · answer #2 · answered by closetcoon_fan 5 · 1⤊ 0⤋
Don't pick the million dollar case. Sh!t i would deal at like real quick just enough cash to put gas buy some food and pay the rent! DEAL!!!!!!!!!
2007-01-28 22:52:46 · answer #3 · answered by Anonymous · 1⤊ 0⤋
It's basically a guessing game
2007-01-28 16:34:11 · answer #4 · answered by sad0574 1 · 0⤊ 1⤋
there is no strategy
its a game that requires absolutely no skill and pure luck
2007-01-28 15:13:54 · answer #5 · answered by Help!-Ineedsomebody 2 · 0⤊ 1⤋