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I believe the equation used on the page is wrong. It states projected winnings as 1/2 x $2 + 1/4 * $4 + ... But you only have a 1/4 chance of winning $2, since
by arrel 11y ago
I believe the equation used on the page is wrong. It states projected winnings as 1/2 x $2 + 1/4 * $4 + ... But you only have a 1/4 chance of winning $2, since have the time you get a heads on first flip, you also get a heads on the second flip, meaning you'll win more than $2.
The equation should be:
1/4 x $2 + 1/8 x $4 ...
Still goes to infinity, but at half the pace.
- ikeboy 11y agoWhy not edit it with the correct equation? Wikipedia needs you!
- rabbidruster 11y agoI think if you get tails on the first flip you still get the $2 payout.
- arrel 11y agoYou're right! Turns out Wikipedia doesn't need me after all.