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”?

qzncsays: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”?