Famous Probability Problem Solution - 23 January
You are offered an opportunity of winning a fortune. There are 100 precious black stones and 100 unworthy white stones. There are two different sacks labelled as 'Heads' and 'Tails'. You can distribute the stones as per you wish. Then a coin will be flipped. Then you will have to choose a stone from the corresponding sack. If you pick up a black stone, all the fortune of black stones is yours but if you pick up white, you get nothing.
How will you distribute the stones so that you can maximize your chances of winning?
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Solution
If you put a single precious black stone in one bag and all the others in the other bag, it will give you almost three/fourth of the probability of picking up a precious black stone.