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Sitting on the Fence (Posted on 2024-03-19) Difficulty: 3 of 5
Suppose that a babysitter had a choice of two payment options:
1) Accepting a flat rate of $15 for a night's work or:
2) Choosing two amongst six envelopes, two containing $1 bills, two containing $5 bills, one wth a $10 bill, and one with a $20 bill.

Note that the second option could leave you with as little as $2(choosing $1 both times) or as much as $30 (choosing the $10 and the $20).

Assuming that you were going to babysit for a long, long time which is the better payment option?

  Submitted by K Sengupta    
Rating: 5.0000 (1 votes)
Solution: (Hide)
Accepting a flat rate of $15 for a night's work is certainly the better option.

For an explanation, refer to the solution submitted by Steve Herman in this location.

Comments: ( You must be logged in to post comments.)
  Subject Author Date
SolutionSimple approachSteve Herman2024-03-19 07:49:04
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