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Hey Chris, thanks for sharing the article. I think I spotted a minor logical error in it tho. > This is because on average, you will gain $1 with every coinfl
by 21stio 6y ago
Hey Chris,
thanks for sharing the article. I think I spotted a minor logical error in it tho.
> This is because on average, you will gain $1 with every coinflip. For those interested in the maths, you have a 50% chance of winning $2, and a 50% chance of losing $1. 50% * (+2) + 50% * (-1) = +$1.
Isn’t it an average gain of $ 50ct per coin flip? That way the calculation would be correct aswell.
- TulliusCicero 6y agoYeah, I'm also pretty confident it's an average of +50 cents per flip. E.g. if you get 50 heads and 50 tails in 100 flips, that's +$50, which maps to 50 cents per flip.
- christopherjgan 6y agoGood pick up!