Mathematics, 19.10.2020 22:01 coralaguilar1702
In a casino in Blackpool there are two slot machines (machine 1 and machine 2): one that pays out 10 % of the time, and one that pays out 20 % of the time. Obviously, you would like to play on the machine that pays out 20% of the time but you do not know which of the two machines is the more generous. You thus adopt the following strategy: you assume initially that the two machines are equally likely to be the generous machine. You then select one of the two machines at random (this turns out to be machine 1) and put a coin into it. Given that you loose that first bet estimate the probability that machine 1 is the more generous of the two machines
What do I know?
What do I want to find out?
What do I expect the answer to be?
How do I go from what I know to what I want to find?
Is the answer consistent with what I expected?
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In a casino in Blackpool there are two slot machines (machine 1 and machine 2): one that pays out 10...
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