Math 450 Senior Seminar Presents
"Switching for Dollars"
by Joey Ciaccia
Tuesday, November 19
3:05 - 3:55
in Patterson 324
Abstract: Suppose you are handed two identical boxes. One of the boxes contains an amount of money equal to b dollars, and the other box contains 2b dollars. Upon choosing a box you can decide to keep the contents of the box or you can trade for the other box (you can only switch for the other box once). In this presentation, the possible choices you can make will be analyzed and we will use probability to come up with a way to maximize the amount of money you win. Specifically, we will look at discrete distributions, continuous distributions, and utility theory to try to find the answer to when to switch or not to switch. Everyone is welcome to attend!
* artwork from Wikipedia Common, Obsidian Soul.