Re: Options - Related Question
I'm rusty on probability but I just wanted to chime in so when someone answers, they can explain this to me also.
Figuring out the probability of each outcome is easy. Since you can end at any given point, how do you figure out the exact value when you have that unknown of when someone would stop?
The only thing that would make sense is anytime you pick out 2 white balls, you'd stop. The same as if you picked out 3 black balls (if you went that far), you'd pick out the next 2 naturally.
How can you figure out the value when you don't know if someone would stop after picking out the first ball no matter what color it is or so on?
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