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#23 |
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#24 |
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#25 |
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#26 |
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You are in a gameshow where you have a box. The box contains one of the following amounts: A principal thought in my mind when asking the question is how much the spread of possible results effects your choice. Is the mean a better quantifier, or the median, if so, when? e.g. if the median was higher than the mean, would you want a higher amount. |
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#27 |
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#30 |
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Yes.
I don't really get this game. What's the most someone will offer me for the box? It doesn't matter what I'll sell it for if no-one would offer me that. Isn't it market pressures which determine what my offer will be and therefore what I can get for it? My "I'll take that" would be somewhere between 40 and 50k I think. An interesting thought on this is what happens if you turn it on it's head, what would you offer for one of those 5 boxes? I wouldn't offer 40k that I do have for a chance to win 250k but I probably would risk 40k that I don't currently have, but could earn guaranteed, for a chance of winning 250k. |
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