Brainteaser question
Imagine you have a special dollar. You can play a game with me. I'll toss a coin and if you call it right, you have two dollars; if not, you take home only one dollar. You can keep playing if you call correctly, doubling your money each time. How much would you pay for the special dollar?
Don't know man, approx. 3 bucks or sth. dawg? Tried to build a payout matrix with estimated payout after round 1 of 1.5 bucks and so on
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I think if you take a sum of the expected values it adds up to $2
Maximum would be $1.50 cuz that’s expected value after 1st toss … don’t trust probabilities in the short term.
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