Rev Leon Lonnie Love
damned mine eyes, DAMNED mine eyes!!
But you only flip once, dont let the law of averages trick youExpected value of flipping is $1,500 vs the $1,000 of walking away. I’m flipping.
But you only flip once, dont let the law of averages trick youExpected value of flipping is $1,500 vs the $1,000 of walking away. I’m flipping.
Expected value of flipping is $1,500 vs the $1,000 of walking away. I’m flipping.
Flip the average person makes that in a month any way may as well take the riskSomeone gives you $1000. If you want, you can just take the $1000 and go home.
Or, you can flip a coin, and if it's heads you get another $2000. But, if it's tails, then you don't get any money at all and have to give the $1000 back. The coin is fair.
What are you doing?
The result is nothing or $3000.
If we were to apply your logic to an increased sum, would you truly look at the expected value of flipping the coin being $1,500,000?
Give me the $1000. An extra $2000 isn't enough, and $1000 isn't too little, to convince me to take a risk.