Fair entry fee per door when hunting a prize
Question
On a game show, one of closed doors hides $200 and the rest are empty; you have no idea which. You open doors one at a time, each choice random among the unopened ones, until you find the money, and each door you open costs you dollars. What value of makes this a fair game?
Short answer
. The position of the prize in your random opening order is uniform on , so you open doors on average (not geometric, since you never reopen a door). Fairness needs , i.e. dollars.
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Open the worked solutionLessons behind this question
- Random Variables and Probability Mass Functions
- Expectation, Mean, and Variance
- Conditional Expectation and Variance Revisited
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