Ann has a choice of two babysitting payment options:
- She can accept a flat rate of $15 for a night's work, or:
- She can choose two of six sealed envelopes containing $1, $1, $5, $5, $10 and a $20 bill.
(For example, the second option could leave Ann with as little as $2 or as much as $30 for a night's work.)
Assuming that Ann will have to babysit for a very long period of time, which is the better payment option for her?
(In reply to
solution by Daniel)
While I get the same conclusion (the flat rate is better), I get a different result.
Ann can get the following amounts:
2
6
6
11
21
6
6
11
21
10
15
25
15
25
30
The total of 420$ made in 14 choices averages on 14$.
When looking in Daniels sloution, I believe the probability of (5,5) is (2/6)*(1/5) = 2/30. This would land him too on 420/30 or 14.
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Posted by Hugo
on 2013-08-13 12:39:55 |
re: solution, different result
