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Topic: (difficult)Theoretical gambling puzzle
Replies: 29   Last Post: Jul 31, 2006 5:54 AM

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 cuthbert Posts: 10 Registered: 6/26/06
Re: (difficult)Theoretical gambling puzzle
Posted: Jul 26, 2006 3:31 AM

thanks, Joao. I think you are using the same rules as mine, but instead of stopping when I'm 1 dollar up, I stop when I'm 2 dollars, 3 dollars ... 26 dollars up. Then the question is: which number between 1 and 26 gives the biggest expected payoff per game. Is that it?

If so, there must be a theoretical solution, and this might be where the 'difficult' warning comes in.

I'll think about this more. If k is the number of dollars chosen as a quit level (i.e. I stop the game as soon as I'm k dollars ahead), then I think we need to consider the probability that in a sample of n cards, n/2 + k (if n is even) or n/2 + k/2 (if n is odd) are red, given equal numbers of red and black cards. Must be a binomial distribution. But 'must be' needs to be justified... Hope to be back on this one.

Date Subject Author
7/21/06 nigel
7/21/06 Mary Krimmel
7/21/06 João Pedro Afonso
7/21/06 Earle Jones
7/23/06 João Pedro Afonso
7/24/06 Earle Jones
7/24/06 João Pedro Afonso
7/23/06 João Pedro Afonso
7/24/06 João Pedro Afonso
7/25/06 Eric Bainville
7/25/06 João Pedro Afonso
7/25/06 Eric Bainville
7/25/06 João Pedro Afonso
7/26/06 Eric Bainville
7/26/06 João Pedro Afonso
7/26/06 Eric Bainville
7/25/06 Eric Bainville
7/25/06 cuthbert
7/25/06 João Pedro Afonso
7/26/06 cuthbert
7/26/06 João Pedro Afonso
7/31/06 cuthbert1
7/25/06 Eamon
7/25/06 Eamon
7/28/06 João Pedro Afonso
7/28/06 mark
7/28/06 João Pedro Afonso
7/28/06 mark
7/28/06 João Pedro Afonso
7/28/06 mark