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Flipping for Dollars (Posted on 2002-10-09) Difficulty: 3 of 5
We play a game as follows:

I place one dollar on the table. I repeatedly flip a coin. Each time the coin comes up heads, I double the money on the table. The first time the coin comes up tails, you take the money and the game is over.

What's a fair admission price for the game?

Would you play the game with me for $100?

See The Solution Submitted by Jim Lyon    
Rating: 3.9000 (10 votes)

Comments: ( Back to comment list | You must be logged in to post comments.)
re(2): Wait a second... | Comment 3 of 21 |
(In reply to re: Wait a second... by Jim Lyon)

So I put down a dollar, and for each consecutive "heads" you give me a dollar, untill I toss "tails"?

You should probably revise the problem to be more clear.
  Posted by levik on 2002-10-09 16:44:53

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