3 ms·
Guessing 100 numbers, there's a chance to produce 2 or more hits, of course. ..to the point that the expected value should converge to the same amount, right?
by caf 10y ago
Guessing 100 numbers, there's a chance to produce 2 or more hits, of course.
..to the point that the expected value should converge to the same amount, right?
- kctess5 10y agoThe expected value of both strategies is to have 1 success, but they have different variance. The first strategy has variance of 0.99, and the second strategy has variance 0. The chance of n out of 100 hits with the first strategy is: binomial(100,n) x 0.01^n x 0.99^(100-n) edit: asterisks as multiplication signs => italics
- erikpukinskis 10y agoRight, but variance doesn't matter if you just repeat the scam tomorrow.