Statistics Puzzle
This might only be a puzzle for me, but that's because stats is one of my weaknesses. I've been noodling on this for a while and finally just figured it out tonight;
Assume that each raffle has the same number of other entries. Which has a better payout, saving up your tickets for the last raffle, or entering 1 ticket every day, or are they equal? Show proof.
Consider there are 30 daily raffle drawings. Each day, 1 ticket is chosen randomly to receive a prize. I give you 1 ticket before every raffle. You can either enter that ticket into the day's raffle, or you can save up all the tickets to enter into the last day's raffle.
Assume that each raffle has the same number of other entries. Which has a better payout, saving up your tickets for the last raffle, or entering 1 ticket every day, or are they equal? Show proof.
Comments
"Assume that each raffle has the same number of other entries"
To enter all the draws would give the best odds as each draw has the same odds of winning (as each draw has same number of entrants). Thus the old adage of "you gotta be in it to win it" holds true. The more you enter, the more chances to win. If you only enter one draw, even with multiple entries, you only have one chance to win.
The odds of winning any draw are far improved from actually entering the draw! Additional entries do not increase your chance of winning by a greater factor than the initial first entry, unless your entries count for 100% of the ticket holders!
Depends on the number of entrants, but we might say, the first entry gives you 10% "chance" to win. As you had 0% chance before entering, that is a big statistical leap. Additional tickets in the same draw might increase your odds by only 0.1% each, so not a great difference! Usually a good reason not to buy multiple tickets for the state lotto, just buy 1 !
Your expected winnings from entering 1 raffle with n other entries, plus 30 (you), and a purse P is:
Clearly, one entry in each of 30 raffles, beats 30 entries in one raffle. This advantage diminishes, however, as n becomes very large.
-Phil
Statistically though, enter each drawing.
Originally, I thought they were equal, but then I tested it with a population of 1 (if you were the only person entering the drawing), and figured it out.
I need a median... you know what I mean, one of those psyhics to help me out on this stuff!
Bill
If you are familiar with the puzzle and know the answer, please refrain from posting until others have a chance to weigh in.
-Phil
Quick: which of the worst US presidents said it best? "Liars don't statistify, but statistifiers sometimes do."
If you want to read about the donkey probem in excruciating detail, check it out:
http://en.wikipedia.org/wiki/Monty_Hall_problem
This assumes that he doesn't always give you the option to change.
This also assumes that he doesn't already think you have thought about it and won't reverse the logic.
"...so I can clearly not choose the wine in front of me!" - Vizzini
-Phil
This is only an answer based on (possibly flawed) logic, no statisticians on this side of keyboard. But if it caused a "firestorm of controversy" I somehow doubt it is as simple as my mind thinks it is.
You pick a door. You have 33% chance you are right. There is 67% chance that the car is behind one of the other 2 doors. The host shows you 1 of the 2 other doors has a donkey. There is still 67% chance that the car is behind one of those 2 doors so if you switch your odds will double.
Rich H
I call Bovine Fecal matter on this.
Sure, you had a 1:3chance of picking the right door, and a 2:3 that the car was behind the other two doors, but as soon as the third door is opened to reveal a goat, you CANNOT still work with thirds.
The statistical 'math' they throw up is all about thirds, but there are no longer three possibilities.
I've done some rather suspicios maths in my time(lots of 'Big O' notation for calculating effiiency of algorithms comes to mind), but this is...
There are lies,
Damn Lies,
And statistics...
Rich H
for one reason oranother, they think that showing both door 2 and 3 is important, but it isn't.
It SHOULD show TWO columns, 'Door A' and 'Remaining door' only.
you can only switch to the 'Remaining door', not 'Door 2' or 'Door 3'.
Door 1,2,3 |Host show |
C,G,G |2 or 3 |
G,C,G |3 |
G,G,C |2 |
Leaving you with the option
C,G,X
G,C,X
G,X,C
where x is shown car
you can keep with door 1 or you can switch if you switch you will get the car in 2 out of 3 of the options. Same holds true if you picked any door to start with.
You are twice as likely to get the car if you switch.
Rich H
Actually, you need to EXPAND the first table, specifically, the first row must be changed to TWO rows:
C,G,G|2 |
C,G,G|3 |
Everyone thinks this problem has to do with thirds, but it's about quarters and halves, and that's not apparent until you have the correct tables.
Otherwise, the last two lines should also be reduced to one row.
Because THERE IS NO DIFFERENCE between those two.
The second and third are 2 sperate rows because the car is in different posititions. The Host has no choice with these ones as he must pick the door that has a donkey in it.
On the last rows, the donkey is behind door 1, and the car is behind the 'remaining door'!
Ignore 'Door ' and the 'Door 3' labels, At this point in the game they don't mean anything any more.
The host has no choice, and the player has only one choice, whether to switch or not.
That means the two last rows boils down to whether or not to switch. Whether he switches with door 2 or 3 is irrelevant.
Here is a list of every possible and not possible option. At first glance it may look like 50/50 odds but because the hosts choice always results in the same result or an invalid result then each block must be considered as 1 result. This is a fundamental statistical rule. As a result there is 67% odds of winning if you pick the donkey.
If you disagree then lets play this proposed game. We each put down $500,000. We will put down the full $1,000,000 behind 1 door out of 1,000,000. You can pick 1 door. I will then open up 999,998 of the doors showing them all empty. By your reasoning you have a 50/50 odds of winning now and you will stay with the door you have. Take a guess who is really going home with the money.
I will make a program to simulate 2^64 doors. You may chose 999 doors. My simulation will then reveal all but 1 door of the remainders. Now by your reasoning you have 99.9% odds of winning. I will match any amount of money you want that the money will be behind the door my sim did not expose. A good bet right.
If you are right you have 99.9% odds of winning. If I am right though you have only 5.416x10^-15% odds of winning. Are you still sure you are correct?
Here's a very simple explanation.
If I have 3 doors... each door had 1/3 of a chance of being the car.
If I pick one door, the other 2 doors have 2/3rd chance of containing the car.
If Monty reveals one of the other two doors, the remaining door still has a 2/3rds chance of being the car. (The odds do NOT change, but YOU have more information!!!)
The kicker... remeber that the odds do NOT change... meaining my door still maintains its original 1/3 chance of being the car.
So, switching to the other door gives me a 2/3rds chance of winning, which is 50% greater chance of winning than if I kept my old door.
If you run this through a billion simulations, you will find that if you switch, you have a greater chance of winning the car by two to one.
Bill
So here is the logic that makes more sense to me (and hopefully simpler than what has been said -- or maybe exactly the same). When randomly choosing one of the three doors you have a 67% chance of choosing wrong. Once they remove one of the wrong answers, switching your answer gives you a 67% chance of choosing correctly. Yeah, so that sounds exactly like what others have been saying.
Well, look at the simulation program, it may allow you to see the light as I have.