tag:blogger.com,1999:blog-15628310.post426023750949826366..comments2021-04-22T08:14:35.383-04:00Comments on Question of the day: Twice the Fun at Half the PriceAnonymoushttp://www.blogger.com/profile/18153935609499338685noreply@blogger.comBlogger10125tag:blogger.com,1999:blog-15628310.post-60942998961628355922011-05-03T02:06:20.036-04:002011-05-03T02:06:20.036-04:00This is actually pretty similar to the Monty Hall ...This is actually pretty similar to the Monty Hall problem.<br /><br />http://en.wikipedia.org/wiki/Monty_Hall_problem<br /><br />You should switch doors!jeffnoreply@blogger.comtag:blogger.com,1999:blog-15628310.post-1355870978574950622011-04-23T12:45:14.648-04:002011-04-23T12:45:14.648-04:00Your potential gain with the second box is bigger ...Your potential gain with the second box is bigger than your potential loss, so you should choose the second box.<br /><br />Think of it this way: if the ratio between the boxes was not two, but a million, you'd have a 50% chance of either getting essentially nothing or gaining a million.<br /><br />I know what I'd choose.Hellohttp://hello.comnoreply@blogger.comtag:blogger.com,1999:blog-15628310.post-60865098369506262562011-04-22T18:17:05.748-04:002011-04-22T18:17:05.748-04:00I'm not very good with statistics, but is ther...I'm not very good with statistics, but is there a way to do expected value analysis of this? 0.5 * 5 + 0.5 * 20 = $12.5, Meaning that if you kept playing this scenario over and over again you would be richer by not going for the $10?<br /><br />If you see $20 instead, the other box would have $10 or $40, with an EV of $25...?jeffnoreply@blogger.comtag:blogger.com,1999:blog-15628310.post-56983566371605154932011-04-22T07:11:30.812-04:002011-04-22T07:11:30.812-04:00what is there beyond universe ?what is there beyond universe ?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-15628310.post-70353474802982261952011-04-19T18:44:35.361-04:002011-04-19T18:44:35.361-04:00I hate it when I re-run old questions. But after ...I hate it when I re-run old questions. But after five years, it's hard to remember them all.<br /><br />Basically, when you picked the first time, you had a 50-50 shot at picking the larger bill. When choosing to switch or not, you haven't added anything new to your information. Either box could still hold the larger amount, so you still have a 50-50 shot at already holding the larger amount.Anonymoushttps://www.blogger.com/profile/18153935609499338685noreply@blogger.comtag:blogger.com,1999:blog-15628310.post-90742038157652256162011-04-18T23:51:07.340-04:002011-04-18T23:51:07.340-04:00http://www.questionotd.com/2005/12/boxes-of-money....http://www.questionotd.com/2005/12/boxes-of-money.htmlAJ Bandahttps://www.blogger.com/profile/08761891733756852643noreply@blogger.comtag:blogger.com,1999:blog-15628310.post-52049014123213269822011-04-18T23:50:26.873-04:002011-04-18T23:50:26.873-04:00this was an old question right? i mean approx 5 ye...this was an old question right? i mean approx 5 years ago.. and still confuses me.. :pAJ Bandahttps://www.blogger.com/profile/08761891733756852643noreply@blogger.comtag:blogger.com,1999:blog-15628310.post-37053018745676700052011-04-15T09:28:21.785-04:002011-04-15T09:28:21.785-04:00Turns out there is no way to maximize your outcome...Turns out there is no way to maximize your outcome here. You still have a 50/50 chance that you picked the maximum return on your first pick. <br /><br />So, flip a coin if you want, but as Hank points out, the other box could have either $5 or $20 in it. They are both just as likely.Anonymoushttps://www.blogger.com/profile/18153935609499338685noreply@blogger.comtag:blogger.com,1999:blog-15628310.post-38442271947213947122011-04-15T02:19:03.770-04:002011-04-15T02:19:03.770-04:00Anonymous (5:45PM) is assuming that the choices ar...Anonymous (5:45PM) is assuming that the choices are $10 and $20. It could just as well be $5 and $10 or it could be $10 and &20. Either way, stay with the first pick. I suspect, were I of such knowledge, the odds are 3 to 1 in favor of the first pick versus a second pick.<br />HankAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-15628310.post-61183941139993565952011-04-14T17:45:52.961-04:002011-04-14T17:45:52.961-04:00Choose the first, with the ten dollar bill. The o...Choose the first, with the ten dollar bill. The other box does not have a twenty dollar bill, because if it did then that would imply the existence of twice that amount (i.e. a forty dollar bill) would be in the other box (had one chosen the second box with the possible twenty dollar bill in it first). There are no forty dollar bills.<br /><br />Correct?Anonymousnoreply@blogger.com