Posted: Mon Aug 05, 2019 12:36 pm
Maybe the simplest way is just to say this...
The original asked "is it better to switch" and someone [H?] wrote out the probability calculation, and decided based on an apparent "return on investment" difference to switch.
BUT---that probaility ALSO applies to the envelope you HAVE, not just the one you're considering.
Those two probabilities/calculations are identical.
And that remains so even if you open the envelope you have. The equations for both options are identical. [if it's 20 bucks, you replace ALL the x's with 20, so you're working with numbers instead of variables, so it applies to your EXACT envelope set...which is just a specific solution for the general case.]
[[just restatement of what I've said previously...but maybe clearer that way?]]
Z, show me the math that proves I'm just guessing and lucky to be right.
I provided an example, the coin toss logic applies precisely to this situation. And the rest of that describes how some gambler's [[the bad ones]] make the error.
Maybe you don't understand...there is pretty simple math that describes the situation...all the dispute and confusion isn't cuz the math is hard. So why is it disputed/confusing? Because it ISN't the math/logic itself.
Don't be a prick in my forum.
The original asked "is it better to switch" and someone [H?] wrote out the probability calculation, and decided based on an apparent "return on investment" difference to switch.
BUT---that probaility ALSO applies to the envelope you HAVE, not just the one you're considering.
Those two probabilities/calculations are identical.
And that remains so even if you open the envelope you have. The equations for both options are identical. [if it's 20 bucks, you replace ALL the x's with 20, so you're working with numbers instead of variables, so it applies to your EXACT envelope set...which is just a specific solution for the general case.]
[[just restatement of what I've said previously...but maybe clearer that way?]]
Z, show me the math that proves I'm just guessing and lucky to be right.
I provided an example, the coin toss logic applies precisely to this situation. And the rest of that describes how some gambler's [[the bad ones]] make the error.
Maybe you don't understand...there is pretty simple math that describes the situation...all the dispute and confusion isn't cuz the math is hard. So why is it disputed/confusing? Because it ISN't the math/logic itself.
Don't be a prick in my forum.