5 ms·
A fair coin means that it is equally likely for you to take a penny from me as it is for me to take a penny from you. For instance, if we play the game 1000 ti
by uiri 10y ago
A fair coin means that it is equally likely for you to take a penny from me as it is for me to take a penny from you.
For instance, if we play the game 1000 times, heads might come up 505 times and tails might come up 495 times. Over time, the difference between the number of times tails comes up and head comes up will go to 0.
Therefore, over time, we'll both stay at $1 million.
- WildUtah 10y agohttps://en.wikipedia.org/wiki/Gambler's_ruin https://en.wikipedia.org/wiki/Gambler's_ruin
- digler999 10y ago> Over time, the difference between the number of times tails comes up and head comes up will go to 0. That doesn't preclude arbitrarily-large variances in between that could add up to a Head/Tail difference > 10^6.