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Started By
Message
re: Monty Hall Spinoff Thread: St. Petersburg Paradox
Posted on 8/12/17 at 5:46 pm to STLDawg
Posted on 8/12/17 at 5:46 pm to STLDawg
quote:
You have a 1/2 chance of winning $1, a 1/4 chance of $2, a 1/8 chance of $4, and so on.
That isn't right. Each flip of the coin is 50/50. The coin has no memory nor control over the flip.
quote:
As the chance of continuing the game decreases at the same rate the amount of winnings increases, the expected value of such a game is infinite.
No it is the same odds for every flip.
4
Posted on 8/12/17 at 5:49 pm to Gray Tiger
quote:
No it is the same odds for every flip
So by the odds of flipping tails once, and flipping it 100 times in a row is the exact same.
Got it.
Posted on 8/12/17 at 5:50 pm to Gray Tiger
Probably a couple hundred dollars
Posted on 8/12/17 at 5:55 pm to Gray Tiger
Actually depends on the coin. Heads is heavier than tails in the case of a quarter
Posted on 8/12/17 at 6:22 pm to Gray Tiger
quote:quote:
You have a 1/2 chance of winning $1, a 1/4 chance of $2, a 1/8 chance of $4, and so on.
That isn't right.
Actually, taken as a series of flips in total, it is.
quote:
Each flip of the coin is 50/50.
That is true for each individual flip but not the whole series in total.
quote:quote:
As the chance of continuing the game decreases at the same rate the amount of winnings increases, the expected value of such a game is infinite.
No it is the same odds for every flip.
Perhaps the semantics of his statement are not correct but his meaning is. He is talking about the odds that the game goes that many consecutive flips, not the odds that the individual flip that time change.
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