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Not sure if my maths is off the mark, but:
If there are n participants:
Total prize = n bp Number of winners = n / 3 (on average) Each winner’s prize = n / (n / 3) = 3 bp Chance of winning prize = 1/3
So if you join, your expected outcome is: 1/3 * 3bp – 1bp (entrance fee) = 0 bp
Meaning, if you join this contest many times, on average you will win 0bp. As good as a coin flip.
C_Wenhoo edited this message on 02/22/2009 12:45AM |
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| Posted On: 02/22/2009 12:44AM |
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