You look at a carnival game. The person running it says, "Just reach your hand into this bag. There are 9 yellow balls and 1 red ball in the bag. You get 4 chances to pull out the red ball. (You have to put the ball you drew back before you draw another ball.) You only have to pay one dollar to play, and you get 3 dollars if you pull out the red ball!"
Assuming the person running the game is telling the truth, and the balls only differ in color, would you expect to make a net profit or a net loss on this game?
(In reply to re(2): Solution
The figures previously given in this comment were erroneous, based on a programming error.
Edited on September 18, 2003, 4:51 pm
Posted by Charlie
on 2003-09-18 15:13:23