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--- pow:problem5s24 [2024/04/07 23:07] – created mazur
+++ pow:problem5s24 [2024/04/13 16:44] (current) – mazur
@@ Line 1: / Line 1: @@
+<box 85% round orange|Problem 5 (due Monday, April 8) >
+An investor in a casino is offered a choice of getting a return each time a certain game is played.
+The game is played by tossing $N$ times a fair coin and recording the sequence of heads (H) and tails (T).
+Let $h$ be the number of appearances of HH in the recorded sequence and let $t$ be the number of
+appearances of HT. For example, when $N=5$ and THHHT is recorded then $h=2$ and $t=1$. The investor
+can choose to either get $h$ cents each time the game is played, or to get $t$ cents each time the game is played. Which choice offers a better expected return?
+</box>
+No solutions were submitted. The expected returns for each choice are actually the same and equal to $(N-1)/4$. For a detailed
+solution see the following link {{:pow:2024sproblem5.pdf|Solution}}.