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What would you choose in the following coin flip scenarios? Explain your thought process.
I did Engineering as an undergrad. So I should have a good appreciation of statistics, and work through the odds, right?
Screw that. I played a slot machine once when I was 16, lost all the money I put in after being ahead, and I’m not doing that shit again. I refuse to set foot on my own into the Melbourne Casino (although sometimes I have no choice, such as my cousin’s wedding reception, or my wife buying tickets to see *sigh* Richard Marx).
Besides, Melbourne Uni’s teaching of Engineering is crap, and the way they teach maths to engineers is even worse. You can taste the contempt from the lecturers. Anything I learned in probability and statistics went in one ear and out the other.
So I’ll take the 1K. Every. Fricking. Time.
Which, of course, is why I am not loaded.