Let's say this: You want to buy the best bread in town, and only two stores are offering what you want. Both stores far away from each other, and you don't have time to make the trip to one and the other. The thing is, for some bakery reasons, from time to time, ''Store A'' have the best bread, and some other time it's ''Store B''.
So, since you can't go to both stores to test them out, you have to make a choice. You can either play Heads or Tails and have a 0.5 of success, or you decide to call contacts to help you choose. You call 5 of them.
1st person has 40% of chances to give you the right store, the 2nd one has 35%, 3rd 36%, 4th 42% and the last one a mighty 43%.
After calling all of them, you are surprised to see that ALL of them told you to go to "Store B".
My question: Should I roll a dice, or should I choose "Store B" even if all the percentages are lower than 50%? If "Store B" it is, how to collectively get all those percentages to work in my favor?
Sorry for the bounty, it's 29.96$, not 30, hope you can forgive me for that missing 0.04
- 386 views
- There are 12 people in a room, where each person holds a card with a 2-digit number. What is the probability that there are at least two people holding cards with identical numbers
- Foundations in probability
- X is number of (fair) coin flips needed to land m heads OR m tails. m is arbitrary natural number. Delfine CDF of X. (in It's simplest form)
- Insurance question involving net premium
- Probability question regarding Moment genrating function and Chebyshev's ineqaulity(show in file).
- foundations in probability
- Hypothesis Testing, Probabilities
- Probability and Statistics question please help