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harshit


Total Posts: 1
Joined: Jan 2021
 
Posted: 2021-01-07 15:12
You and your friend Chirag are cult fans of cricket. However unlike you, Chirag is a compulsive
gambler and regularly bets on India in various matches and tournaments. India and England are
about to play a 5 match T20 tournament in March and Chirag is already pepped up about seeing
India win and making a lot of money. He wants to bet Rs. 25,000 on a double or nothing bet in
which he gets double the money if India wins the tournament, otherwise nothing.
Matches in T20 rarely ever tie so you may neglect the probability of a particular match ending in
a draw. Also both India and England are extremely strong forces in international cricket and
equally likely to win on any given day. Any team that wins 3 matches first wins the trophy.
Unfortunately for Chirag though, the bookie is taking bets on seperate matches only and not the
tournament as a whole. That means he can't bet on the outcome of the entire tournament and
will have to place the double-or-nothing bets on individual matches itself.
Help Chirag to model how much money he should bet before each match of the tournament so
that in the end, he gets double his money (Rs. 50,000) if India wins the trophy and loses his initial
Rs. 25,000 if India ends defeated.

pj


Total Posts: 3604
Joined: Jun 2004
 
Posted: 2021-01-07 17:08
Good one.

Actually your Chirag is looser, giving away 2343.5 Rs.

The older I grow, the more I distrust the familiar doctrine that age brings wisdom Henry L. Mencken
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