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The problem of points, also called the problem of division of the stakes, is a classical problem in probability theory. One of the famous problems that motivated the beginnings of modern probability theory in the 17th century, it led Blaise Pascal to the first explicit reasoning about what today is known as an expected value .
In fact, according to decision theory, the only value that matters in the above matrix is the +∞ (infinitely positive). Any matrix of the following type (where f 1, f 2, and f 3 are all negative or finite positive numbers) results in (B) as being the only rational decision. [4]
This means the bettor must have over 65,500 (2^15-1 for their 15 losses and 2^15 for their 16th streak-ending winning bet) times their original bet size. Thus, a player making 10 unit bets would want to have over 655,000 units in their bankroll (and still have a ~5.5% chance of losing it all during 5,000 plays).
In Wald's maximin model, player 1 (the player) plays first and player 2 (the player) knows player 1's decision when he selects his decision. This is a major simplification of the classic 2-person zero-sum game in which the two players choose their strategies without knowing the other player's choice.
The combination of McCormick’s decision and Tesla's response sets up a 2025 legal battle that could go all the way to the US Supreme Court — and could have implications for any big publicly ...
The fixed rate for a 15-year mortgage is 5.84%, down 12 basis points from last week's average 5.96%. These figures are lower than a year ago, when rates averaged 6.95% for a 30-year term and 6.38% ...
For his part, Luck made it clear the decision was about his happiness. The Colts were also widely seen as having not properly supported Luck through the years, a narrative the man himself strongly ...
The simplest fraction 3 / y with a three-term expansion is 3 / 7 . A fraction 4 / y requires four terms in its greedy expansion if and only if y ≡ 1 or 17 (mod 24), for then the numerator −y mod x of the remaining fraction is 3 and the denominator is 1 (mod 6). The simplest fraction 4 / y with a four-term ...