A group of crazy bank robbers try to crack a safe, even though they don't have a clue what the code is.
The code has 5 numbers in, and the numbers on the dial range from 1 to 60. If they crack the safe, they get £100 billion.(That's a British billion - a million million). If they get the code wrong, they get caught and fined £1 million.
Assuming the bank robbers don't enter the same code twice, if they keep trying and re-trying until they crack the safe, are they more likely to have lost or gained money? If so, how much would they probably gain/lose?
(In reply to solution
Why would you assume that the robbers know whether to start by going clockwise or counterclockwise when the problem clearly states that 'they don't have a clue what the code is'.
The expected loss therefore would be 677.6 British billion pounds.
Posted by Sanjay
on 2003-08-11 10:23:44