Endless Paradigm

...if you had two options and are running a company.
(note, you cannot break-even in this choice)

Aren't they both the same..

I choose the 65% chance of loss

If I was running any company, I think I would always pick the one with the word 'profit' in it.

ZiNgA BuRgA Wrote:(note, you cannot break-even in this choice)

You never specified how much profit will be gained, or how much loss.

...

For example, there could be a 35% chance to get $1,000,000, and a 65% chance to loose $1. (Imagine a rigged lottery)

Then even though you have more chance of a loss, that situation is very favorable in your odds.

Your average gain would be      (1000000 x 0.35) - (1 x 0.65) = 349999.35.



...


The questions is like: Would you rather (Since no breaking even, thus if not win -» loss)

-35% chance of gaining $A, 65% chance of loosing $B.

or

-65% chance of losing $C, 35% chance of gaining $D.

How the hell do you answer that.

1. Read Zingas poll.
2. Think
3. ?????
4. PROFIT!!!

profit

Hurtween Wrote:If I was running any company, I think I would always pick the one with the word 'profit' in it.

Its all about how you look at it

is the glass have full

Assassinator Wrote:

ZiNgA BuRgA Wrote:(note, you cannot break-even in this choice)

You never specified how much profit will be gained, or how much loss.

...

For example, there could be a 35% chance to get $1,000,000, and a 65% chance to loose $1. (Imagine a rigged lottery)

Then even though you have more chance of a loss, that situation is very favorable in your odds.

Your average gain would be      (1000000 x 0.35) - (1 x 0.65) = 349999.35.



...


The questions is like: Would you rather (Since no breaking even, thus if not win -» loss)

-35% chance of gaining $A, 65% chance of loosing $B.

or

-65% chance of losing $C, 35% chance of gaining $D.

How the hell do you answer that.

Simple...

A = $$$ you would make if you won a bet... say if you bet on a losing team and they win.
B = $$$ would be the money you bet, and you would have to place that into the hat. you happened to do what better A did and lost though.

C = Same as B
D = Same as A

Syfe Wrote:

Assassinator Wrote:

ZiNgA BuRgA Wrote:(note, you cannot break-even in this choice)

You never specified how much profit will be gained, or how much loss.

...

For example, there could be a 35% chance to get $1,000,000, and a 65% chance to loose $1. (Imagine a rigged lottery)

Then even though you have more chance of a loss, that situation is very favorable in your odds.

Your average gain would be      (1000000 x 0.35) - (1 x 0.65) = 349999.35.



...


The questions is like: Would you rather (Since no breaking even, thus if not win -» loss)

-35% chance of gaining $A, 65% chance of loosing $B.

or

-65% chance of losing $C, 35% chance of gaining $D.

How the hell do you answer that.

Simple...

A = $$$ you would make if you won a bet... say if you bet on a losing team and they win.
B = $$$ would be the money you bet, and you would have to place that into the hat. you happened to do what better A did and lost though.

C = Same as B
D = Same as A

If you are given a maths question in a test, and you randomly assume values and equalities like that, you will get 0.