Probabilities are not useful? You can get away with just combinatorics with the Monty Hall problem, but can you build on it?
Here is the game: You play Monty Hall. You will win the car (worth $100k) in 2 of 3 cases. However, you must pay a bet to play. How large a bet would you pay?
Next step: You play a series of Monty Hall Bets, but your wallet is limited. How much would you bet now? (see Kelly Criterion)
To compute this, you need the value 2/3. How would you call it? Maybe “probability”?
Probabilities are not useful? You can get away with just combinatorics with the Monty Hall problem, but can you build on it?
Here is the game: You play Monty Hall. You will win the car (worth $100k) in 2 of 3 cases. However, you must pay a bet to play. How large a bet would you pay?
Next step: You play a series of Monty Hall Bets, but your wallet is limited. How much would you bet now? (see Kelly Criterion)
To compute this, you need the value 2/3. How would you call it? Maybe “probability”?