Fair Amount
Dual Aspect is walking down the street when someone on the sidewalk offers him a game.For a fee,he can pick two bills from a bucket that contians five $5 bills,ten $10 bills and twenty $20 bills.
As he has to do the picking blindfolded,what is the fair amount he should be charged to play this game?
As he has to do the picking blindfolded,what is the fair amount he should be charged to play this game?
posted by Knightmare at
9:09 PM
13 Comments:
This post has been removed by the author.
I see and error
should be 29.71
nope
it is $15 that is the average pick
5 5s 10 10s 20 20s
525/35=15
$30
35balls totaling 525 dollars
525/35=15 average per ball.
So if each person picks 2 balls at $30 dollars each the game host will break even (on average assuming replacement). So in order to make a little profit he should be ask more than $30. That is of course assuming the game host's time is worth nothing.
calkurne got it...but didn't say the final answer(like Chris did)
$30 is fair cost
It's $30 regardless of whether or not each note is (immediatley) replaced.
or immediately.
The average bill is $15
so two bills should be $30
But when I modeled it, I get 29.71 and don't know why. After the first selection, there an average of 510 left and 34 bills. so the average is still 15.
For i = 1 To 35
If i <= 5 Then bill(i) = 5
If i >= 6 And i <= 15 Then bill(i) = 10
If i >= 16 Then bill(i) = 20
Next i
again:
a = Int(Rnd() * 34 + 1)
again1:
b = Int(Rnd() * 34 + 1)
If a = b Then GoTo again1
n = n + 1
d = bill(a) + bill(b)
d2 = d2 + d
If n < 10000000 Then GoTo again
Debug.Print d2 / n
It should have been
a= Int(Rnd() * 35 + 1)
This post has been removed by the author.
Try Ragknot's code with his 35 instead of 34. You also need to add
"Dim bill(1 to 35)" at the start. If you include or exclude the line
"If a = b Then GoTo again1", you still get $30. That line was a quick
way of simulating that you'd already taken bill(a).
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