Stumped on a puzzle
Re: Stumped on a puzzle
by The Dharma Bum » Wed Jan 09, 2013 9:12 am
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Re: Stumped on a puzzle
by Stratego » Wed Jan 09, 2013 7:00 pm
Sigmund Freud defined four parts of a psyche; the id, the ego, the superego and the stratego. The Stratego being the highest form of morality and scientific thinking.
If guns are not outlawed, the in-laws will have guns.
If guns are not outlawed, the in-laws will have guns.
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Re: Stumped on a puzzle
by Showboat » Wed Jan 09, 2013 7:25 pm
But those who torment us for our own good will torment us without end for they do so with the approval of their own conscience. - C.S.Lewis
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Re: Stumped on a puzzle
by Showboat » Wed Jan 09, 2013 7:33 pm
Last edited by Showboat on Wed Jan 09, 2013 7:36 pm, edited 1 time in total.
But those who torment us for our own good will torment us without end for they do so with the approval of their own conscience. - C.S.Lewis
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Re: Stumped on a puzzle
by OGPhilly » Wed Jan 09, 2013 7:36 pm
Alright I'm feeling dumb now. Explain to me in derpspeak why I would pay any amount conceivable when there a 50/50 chance I walk away with nothing after the first round?
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Re: Stumped on a puzzle
by Showboat » Wed Jan 09, 2013 7:42 pm
You wouldn't mate. It's a paradox because of infinity, which isn't practical in real life. Your expected value depends on the bankroll the casino has.
From the wiki:
Banker Bankroll Expected value of lottery
Friendly game $100 $4.28
Millionaire $1,000,000 $10.95
Billionaire $1,000,000,000 $15.93
Bill Gates (2008) $58,000,000,000 $18.84
U.S. GDP (2007) $13.8 trillion $22.78
World GDP (2007) $54.3 trillion $23.77
Googolaire $10100 $166.50
I only know this shite because I heard it on a podcast (about a coin flip rather than chess pieces but the principle's the same) a couple of weeks ago and some professor was explaining it.
From the wiki:
Banker Bankroll Expected value of lottery
Friendly game $100 $4.28
Millionaire $1,000,000 $10.95
Billionaire $1,000,000,000 $15.93
Bill Gates (2008) $58,000,000,000 $18.84
U.S. GDP (2007) $13.8 trillion $22.78
World GDP (2007) $54.3 trillion $23.77
Googolaire $10100 $166.50
I only know this shite because I heard it on a podcast (about a coin flip rather than chess pieces but the principle's the same) a couple of weeks ago and some professor was explaining it.
But those who torment us for our own good will torment us without end for they do so with the approval of their own conscience. - C.S.Lewis
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Showboat - Congressman
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Re: Stumped on a puzzle
by OGPhilly » Wed Jan 09, 2013 7:46 pm
So just as a mathematical formula, the value is infinite cause there's no like limit to how much you might win, despite the odds of perpetually winning being so slim?
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Re: Stumped on a puzzle
by Showboat » Wed Jan 09, 2013 8:02 pm
Yeah the expected value is 0.5 chance of winning $2 plus 0.25 chance of winning $4 etc etc which works out quite low with a finite maximum win. But with an infinite max win it keeps on going forever so is an expected value of infinity. Which is of course completely f**k up.
But those who torment us for our own good will torment us without end for they do so with the approval of their own conscience. - C.S.Lewis
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Re: Stumped on a puzzle
by The Dharma Bum » Wed Jan 09, 2013 8:08 pm
Hmmm...sounds like I had better cheat after all.
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