You are told there are two envelopes. One contains twice as much money as the other one. You pick one but are allowed to change your mind after picking it. (You are equally likely to pick the one with less money as the one with more money.)
To figure out how much on average the other envelope should contain, one might average x/2 and 2x because one is equally likely to pick one as picking the other. Since this comes out to 5x/4, one might always change his or her mind. But wouldn't this end up with one never making up his or her mind?
I'm not sure what the object of this exercise is....
to determine what amount is in the second envelope,
or to end up with the envelope with the larger sum.....
if it is the latter .....then you should always change your mind.
If you dont then if you didnt select the larger amount initially you
stand no chance of taking the larger amount
Posted by 1StokeD1
on 2005-04-03 15:14:18