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The Best Strategy (Posted on 2003-03-18) Difficulty: 5 of 5
A box is filled with 'N' slips of paper. On each slip of paper is written some positive integer (note that any positive integer may appear on the slips - not just the integers from 1 to 'N'). The integers do not necessarily appear in any sequence or pattern. Each of the slips has a different integer on it, so there is just one slip with the greatest integer.

A person who has no prior knowledge of which numbers appear on the slips - but who does know that there are 'N' slips - is to blindly pull slips from the box one by one. The person looks at each slip, then either agrees to accept that number (of Rupees) and quit or decides to go on and choose another slip.

Note that the person looks at each slip as he/she proceeds, and then decides whether to quit or to go on. That person can go forward, but cannot go back. If no choice is made by the time the 'N'th slip is reached, then the person must accept the number (of Rupees) on the 'N'th slip.

Does there " EXIST " a 'Best Strategy' for the person ? If " YES ", then what is that strategy ? (Here the term " Best Strategy" means that the person will get the greatest amount of Rupees).

See The Solution Submitted by Ravi Raja    
Rating: 4.1818 (11 votes)

Comments: ( You must be logged in to post comments.)
  Subject Author Date
Pigeonhole principleAditya2007-05-19 15:22:43
re(7): regarding posted solutionCharlie2003-03-29 09:59:35
re(6): regarding posted solutionRavi Raja2003-03-28 19:41:57
re(6): regarding posted solutionRavi Raja2003-03-28 19:38:00
re(5): regarding posted solutionRavi Raja2003-03-28 19:10:26
What i would probably do.charles2003-03-27 14:32:30
re(5): regarding posted solutionCory Taylor2003-03-27 04:05:57
re(4): regarding posted solutionCharlie2003-03-27 03:36:31
re(4): the solutionRavi Raja2003-03-26 20:35:23
re(3): regarding posted solutionRavi Raja2003-03-26 20:23:08
re(3): regarding posted solutionRavi Raja2003-03-26 20:09:51
re(3): the solutionpleasance2003-03-26 01:35:46
re(2): regarding posted solutionCory Taylor2003-03-25 04:51:30
re(2): regarding posted solutionCory Taylor2003-03-25 04:38:25
re(2): the solutionRavi Raja2003-03-25 03:56:10
re: regarding posted solutionRavi Raja2003-03-25 03:48:27
re: regarding posted solutionRavi Raja2003-03-25 03:37:45
re: the solutionpleasance2003-03-24 08:10:49
regarding posted solutionCory Taylor2003-03-24 04:10:36
re(3): What's the distribution?Ravi Raja2003-03-21 03:49:59
re(3): What's the distribution?Ravi Raja2003-03-21 03:41:06
re(2): What's the distribution?pleasance2003-03-21 02:58:47
re: solutionCharlie2003-03-19 16:22:39
SolutionsolutionCharlie2003-03-19 16:10:38
re: if we assume randomRavi Raja2003-03-19 04:12:32
re: Any integer?Ravi Raja2003-03-19 04:02:49
re(3): What's the distribution?Ravi Raja2003-03-19 03:52:50
re(2): Monte Carlo Simulation (continued)Ravi Raja2003-03-19 03:46:31
re(2): What's the distribution?Charlie2003-03-19 03:41:14
re: Monte Carlo SimulationRavi Raja2003-03-19 03:36:40
re: What's the distribution?Ravi Raja2003-03-19 03:32:33
re: Another differenceRavi Raja2003-03-19 03:27:06
re(3): solution to similar situationRavi Raja2003-03-19 03:24:37
re: solution to similar situationRavi Raja2003-03-19 03:22:49
re(2): solution to similar situationCharlie2003-03-19 03:09:22
re: partial solutionRavi Raja2003-03-19 03:03:17
re: solution to similar situationRavi Raja2003-03-19 03:00:04
Solutionif we assume randomAlan2003-03-18 13:42:24
Any integer?Gamer2003-03-18 10:51:20
re(2): Monte Carlo Simulation (the program)Charlie2003-03-18 09:09:30
re: Monte Carlo Simulation (continued)Charlie2003-03-18 08:55:05
Monte Carlo SimulationCharlie2003-03-18 08:47:08
Some ThoughtsWhat's the distribution?pleasance2003-03-18 07:34:42
Another differenceCharlie2003-03-18 05:31:04
partial solutionCory Taylor2003-03-18 04:56:05
Some Thoughtssolution to similar situationCharlie2003-03-18 03:59:33
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