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Philosophical approach to probability

Name: Anonymous 2005-09-15 3:03

Say there is a card game with 2 cards X and Y. The rules say you must only flip over one card. There is a 99% chance that flipping over X will win you the game. The game is played once.

The question I would like to ask is, "How much does confidence affect the outcome of a one-time random event?"

Given that there is a 99% chance to win by flipping over X, it would seem sensible to flip that card. However, what does it mean to have a 99% chance (or any other chance) to win in a one-time event? There are only have two outcomes: win or lose.

Name: CCFreak2K !mgsA1X/tJA 2005-09-16 21:53

Confidence in X doesn't mean X is definitely going to be the winning card.

This and only this event, when there is no additional data, is going to be 50/50 X or Y.  Changing the probability means you have data from previous games that suggests X is 99% more likely to be a winning choice.  This would require 100 games to be played, with one of them actually having Y as the winner (if I remember correctly).

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