Summer is in full swing! Time to get those brains as warmed up as the rest of you.
Note: If you could all please input your answers using the previously noted html code it will allow others to answer without having a spoiler. Also, in your answer, do not include any ' or " or it will not work properly. Also, if you are having trouble getting the code to work, please do not be the first person to answer.
Question
I am thinking of a number between 1 and 100. You can guess a number and I will tell you if it is high or low. If you get it right on the first guess I will pay you $5, on the second guess $4, and so on. If you get it right on the sixth guess I will pay you nothing, on the seventh guess you owe me $1, on the eight you owe me $2, and so forth.
Q1) Should you play the game with me?
Q2) What is your expected return?
Good Luck!
Other people's buttons aren't working for me for some reason, so I hope I'm not writing more of the same. Hopefully I did the code right...
@3green - It looks like your code is missing some parantheses. Lets see if I can fix it. You're not the first person to have trouble with the code suggesting that I may be giving bad advice. Oddly, the buttons in the initial post I reference all work fine.
your original answer with the parantheses added:
and, another test with your same answer:
Let's see how this works...
cooldurg's answer:
smeethu's answer:
My code looks right. Let me know if it doesn't work.
Del.
Additionally log base 2 of 100 = 6.6438 giving the average guesses needed. While this may make it appear as if your average would be a negative value you need to account for the fact that this distribution terminates at 7 (the maximum number of guesses needed) but the lower extreme is 1 guess. I don't have a calculator on me, so I can't find the standard deviation (it would allow for the output of the average expected value of $.20). This is abridged/statistical method of finding the same answer as mikeswimn and I found through a manual method.
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