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A sequence of events
There is an event that happens 1/10 times. It costs $1 for each attempt. If the attempt succeeds, you get $9 back, for a profit of $8. If you play up to 10 times, but stop when you win, is it profitable?
I know this shouldn't be profitable, but let me explain some logic and tell me why it's faulty? In a sequence of 10 events, NOT STOPPING, the event will be successful once. In this sequence, it will evenly be distributed throughout each try, averaging at try #5.5. Visual Display: X = hit 10 trials of 10 sequences X _ _ _ _ _ _ _ _ _ _ X _ _ _ _ _ _ _ _ _ _ X _ _ _ _ _ _ _ _ _ _ X _ _ _ _ _ _ _ _ _ _ X _ _ _ _ _ _ _ _ _ _ X _ _ _ _ _ _ _ _ _ _ X _ _ _ _ _ _ _ _ _ _ X _ _ _ _ _ _ _ _ _ _ X _ _ _ _ _ _ _ _ _ _ X This is average, yes? So if you go through one sequence, stopping when you hit, it should be profitable? |
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