Summer Internship (Trading) Interview - Trading
This is equivalent to 1 - (the probability of drawing a 3 tails), which is 1 - 1/8 = 7/8
Under (a) the probability that the next space does not contain a bullet is 2/5, whereas under (b) the probability is 1/2. Choose (b) to maximize your likelihood of survival.
Yes. Try to visualize this. There are only three positions that the chamber could take that would place a blank in the barrel. Since the bullets and the blanks are adjacent to each other, only one of these positions will have a bullet at the next spot in sequence. So, firing the next shot in sequence will give 2/3 odds of survival. This is an improvement over spinning the barrel.
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