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On a demandé à un Trading Analyst...13 juillet 2011

There are 1000 buckets, one of them contains poison, the rest are filled with water. They all look the same. If a pig drinks that poison it will die within in 30 mins. What is the minimum amount of pigs you need to figure out which bucket contains the poison.

14 réponses

I make it 10. The first pig drinks from every other bucket. The second pig drinks from the first two buckets, then skips two, and so forth. The tenth pig drinks from the first 512 buckets. Wait 30 minutes. You can determine which bucket is poisoned uniquely from the pattern of porcine mortality - if all the pigs die then then first bucket is poisoned. If none of the pigs die then the last bucket is poisoned (it's a binary encoding). You have 30 minutes to spare. You might think it possible to divide the problem up between these two halves, but since the experiment might kill all your pigs the worst case would be needing 9+9 = 18 pigs, so worse than doing it all in one shot. Moins

Matt has the right idea with the encoding, but 1 hour gives you time for two passes. So first you divide the 1000 buckets into groups of 32 buckets each. You'll have 32 groups (the last one with only 8 buckets). The 32 groups you can binary encode with 5 digits, so 5 pigs will tell you after 30 mins which _group_ of buckets contains the poisoned one. So for the the second 30 mins you binary encode that group of 32 buckets the way Matt described. This way you're using no more than 5 pigs at any given time. You might still kill a total of 10 in the worst case, but this approach takes advantage of the extra time to reduce the number of pigs used simultaneously. Slightly more efficient. Moins

I think the question is missing "within one hour?" at the end. If that's the case then you only get two tests / trials. Start with 33 pigs each drinking from 30 buckets, then wait 30 min. If none die, then it's the leftover bucket, if one dies then get another 30 pigs to drink from the buckets that the dead pig drank from. Moins

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UBS

What's the square root of 2000?

10 réponses

sqrt(2000) = sqrt(100 x 20) = 10 sqrt(20). sqrt(20) = sqrt(4 x 5) = 2 sqrt(5) I wouldn't be able to guess sqrt(5) very accurately other than it is greater than 2 and less than 3. sqrt(2000) = 44.7 (calculator), though 20 sqrt(5) would probably be good enough. Moins

If you can do a little multiplication and adding in your head this is not too difficult. First get a rough estimate about where you need to be. Try 40 x 40 = 1600. Good but you can do better. Try 44 x 44 = (44x40) + (44x4) = 1760 + 176 = 1936. Now try 45 x 44. All this is saying is we need 45 sets of 44. So take 1936 and add 44 to it. The result is 1980. Now try 45 x 45. All this is saying is that we need 45 sets of 45. Since we can reverse numbers in multiplication we already have 44 sets of 45 which is 1980. Just add 45 to 1980 and the result is 2025. So we know the square root is somewhere between 44 and 45. The range from 1936 to 2025 is 89. 2000 - 1936 = 64. So what is 64/89? Round it up so we get a fraction like 70/100 which is .7. Therefore, 44.7 is a good estimate. The actual root is 44.72135954.... Hope that helps. Moins

The square root of 2000 is a number that when multiplied by itself (once) is equal 2000 Moins

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Susquehanna International Group (SIG)

I have 10 cards face-down numbered 1 through 10. We play a game in which you choose a card and I give you the corresponding dollar amount. a) What is the fair price of this game? b) Now, after picking a card you can either take the dollar value on the card or $3.50. Also, cards worth less than 5 are now valued at $0. What is the maximum price you are now willing to pay for the game?

10 réponses

Total amount=3.5*4+(5+6+~+10) Expected value=total/10=5.9 @FJM no idea where your 4.5 coming from Moins

Agreed. I double counted. 3.5*.4 + 7.5*.6 3.5 was given 7.5 =(5+6+7+8+9+10)/6 Moins

"You decide on taking the dollar value on the card or $3.50 *before* seeing the number on the card." 2nd game: Obviously, the game price should be no less than 3.5, otherwise there is an opportunity for arbitrage. Now that the price is higher than 3.5, it makes no sense for a rational player to choose just take 3.5 dollar and exist the game. The player should always choose to bet. And the expectation for betting is (5+6+...+10)/10 = 4.5. Moins

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Jane Street

Say I take a rubber band and randomly cut it into three pieces. What's the probability that one of the pieces has length greater than 1/2 of the original circumference of the rubber band.

9 réponses

The correct answer is 3/4, as this problem is equivalent to the famous 3-points-on-semicircle problem. Why? If one of the pieces has length greater than 1/2 the circumference, then the three points of cutting must lie in the same semicircle. On other hand, if the three points of cutting lie on the same semicircle, then the longest piece must be at least 1/2 of the circumference. Moins

For reference to the 3-points-on-same-semicircle problem, see e.g., http://godplaysdice.blogspot.com/2007/10/probabilities-on-circle.html Moins

This problem is also equivalent to the probability that, if you have a line segment from 0 to 1 and you make 2 random cuts on that line segment, what is the probability that the three resulting pieces do NOT make a triangle? Moins

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Wolverine Trading

You have three barrels. One barrel is filled with apples, one with oranges, and one with both apples and oranges. Each barrel is mislabeled. You can take out as many fruit as you like form each barrel and look at it. What is the minimum number of fruits you need to remove to correctly label the barrels?

8 réponses

One. Since it's mislabeled, A can be labeled as O or A+O. Similarily, O = {A, A+O} and A+O = {O, A}. Case 1: Take 1 from A+O label, it turns out to be A. Relabel it. We have A, O mislabels left, and A+O, O real labels left. Mislabeled ones can ot be the same as real labels. So the mislabeled O should be A+O and A should be O. Case 2: also choose from A+O, but it turns out to be O. Solving the same as case 1. Moins

None, you don't need to move any of the fruit to correctly label the barrels. You need to change the labels. Moins

All three are mislabeled and you cannot look inside the barrels. If you take one out of the apples+oranges barrel, whatever fruit you pull out is the fruit of the barrel. And Since you know the other two are mislabeled, you would switch the labels. So you need to take out only one fruit Moins

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Jane Street

Game1 : a dice roll with a 100-faces dice, labeled from 1 to 100. 1. You get to roll once and receive the amount of dollars labeled on the face, how much would you like to pay for this roll. 2. How much would you pay if you can roll the dice twice if you are unsatisfied with the first outcome? 3. You can roll the dice infinite times, and costs 1 dollar for each roll except the first one. What is your strategy? Game2: you are competing in a game with 2 other players. with a 21-faces dice (labeled 1-21). All three of you gets to choose a number and then roll the dice. Whoever chose the number closest to the outcome wins. What is your strategy? another twist: what if all three of you can communicated?

8 réponses

3. This is hard but you have 7 rolls on average to get a number in the top 7th (ie 86+) and the number averages a 93 1/7 . You spend 7 rolls so your expected is 86 1/7 Moins

the infinite roll approaches the expectation of profit to be 86.3571 please run the following matlab code i wrote % this calculate the expecation of the profit when you throw a 100-faced % dice - given the value of the accepted tossed points - the first toss is % free - starting from the 2nd toss you pay 1£ to play again % input: Nmax -- the largest max number of tosses allowed % output: % N -- number of maximum allowed tosses % P -- expectation of the profit function [N, P] = one_hundred_faced_dice(Nmax) N = linspace(1, Nmax, Nmax); P = N - N; %---if we only throw it once, the expectation is 50.5 P(1) = 50.5; %---throw more times-- P(i-1) is known for i = 2:Nmax, %----if the first toss is lower than N(i-1), toss it again P(i) = floor(P(i-1))*P(i-1)/100; %----if the first toss is higher than N(i-1), accept it for j = (floor(P(i-1))+1):100, P(i) = P(i) + 0.01*j; end %----however from the 2nd toss, we need to pay to play it P(i) = P(i) - 1; end %----draw the curve plot(N, P); end Moins

if you are going to roll an M-faced dice for Nmax times with a fee starting from the 2nd roll please run the following matlab code % this calculate the expecation of the profit when you throw a 100-faced % dice - given the value of the accepted tossed points - the first toss is % free - starting from the 2nd toss you pay 1£ to play again % input: Nmax -- the largest max number of tosses allowed % M -- no. of faces % output: % N -- number of maximum allowed tosses % P -- expectation of the profit function [N, P] = M_faced_dice(Nmax,M,fee) N = linspace(1, Nmax, Nmax); P = N - N; %---if we only throw it once, the expectation is 50.5 P(1) = (1+M)/2; P(1) = P(1) -1; %---throw more times-- P(i-1) is known for i = 2:Nmax, %----if the first toss is lower than N(i-1), toss it again P(i) = floor(P(i-1))*P(i-1)/M; %----if the first toss is higher than N(i-1), accept it for j = (floor(P(i-1))+1):M, P(i) = P(i) + j/M; end %----however from the 2nd toss, we need to pay to play it P(i) = P(i) - fee; end %----draw the curve plot(N, P,'o-'); end Moins

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Jane Street

Flip a coin. if head, I win 1 point. If tail, u win 1 point. The person who first wins 2 points wins the game. And the loser must pay winner $1. However, if I have a option which I can increase the stake of the game to $2/game, what is the value of such option.

8 réponses

Anonymous is right but the option is going to be used for 2/3 times. expected gain with option is 2/3(1) + 1/3(-1) = 1/3. expected gain without option is 0. the value of the option is then 1/3. Moins

dont believe above answer is correct: as correctly mentioned, this option would only be used if you are 1-0 up. Of the next 2 coin flips for (assuming i want heads), after the 1-0 scenario is HH, HT, TH, TT. Of which, all but 1 will give me $2. So $2 x 0.75 = $1.5 in. compared to $-2 x 0.25 = -$0.5 averaging out the above gives you +$1 expected value. Going further (i.e. what is this option worth to you before the game starts), you start off 0-0, you wouldnt use it. you go 1 down, you wouldnt use it, you go 1 up you do use it. It will only be used in 50% of scenarios, therefore you pay no more than $0.5 for it. Moins

option is worth 0.25 at time 0. at time 1 (after one flip) the option is worth zero or 0.5 (as mentioned above) depending on whether it will be exercised. draw out a tree and this can be clearly seen Moins

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Jane Street

The dice game mentioned above: You roll a 100-sided die. You can choose to accept the value of this roll for $x, where x is the value showing. You can choose to re-roll the die for $1. What is the strategy you employ and what is the fair value of the game?

7 réponses

I don't think this is quite right. The EV of one throw is 50.5. Therefore the EV of the second throw is 49.5 (including the cost of 1 to take the throw). Hence you'd accept 50 or more on the first throw and would re-roll if you get 49 or less. So EV = (51/100)*75 + (49/100)*49.5 = (50/100)*(75+49.5) + (1/100)*(75-49.5) = 0.5*124.5 + 0.255 = 62.505 Moins

SternH I think got the right answer but due to some arithmetic error... x = (1/100)*100 + (1/100)*99 + ... + (1/100)*x + (x/100)*(x-1) is not quite correct. Two issues I see: 1) Need to consider floor/ceil issues. 2) there are 100-x+1 terms, not 100-x terms, with the 1/100 factor. One way you could adjust for this is make (x/100) into (x-1)/100 Moins

E[X] = 50.5 thus you stop if you get X > 50.5. Thus, P(X) = 0.5 to get E[X] = 75.5 and P(X) = 0.5 when we re-roll first time. Now, second roll has E[X] = 49.5 as all outcomes are reduced by value 1 needed to pay for a re-roll. Thus, P(X) = 0.5*0.5 for E[X] = 74.5 when we accept the second roll. And P(X) = 0.5*0.5 when we re-roll for 3rd time. In this way, E[X] = Sum( (0.5^x )*(75.5-x) ) where x goes from 1 to 75 Answer = 74.5 + 2^(-76) Moins

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Jane Street

In a pack of cards what is the expected number of cards one has to draw to get get cards of all four suites.

7 réponses

approximately, 1 + 51/39 + 50/26 + 49/13 = 8. I used if probability of heads is p, then the expected number of draws to get first heads is 1/p. Moins

Using a Monte Carlo Method, the answer is roughly 7.7. I'm not too sure how you would do this analytically though :( Moins

do you replace the card if it isn't a new suit?

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TransMarket Group

What the probability of getting 2 consecutive heads in a total of N tosses (I found this one pretty hard and I didn't figure out the right answer at the time.)

6 réponses

I think the answer should be this: Since the probability of getting two heads in a row and getting two tails in a row is the same, we only need to figure out the probability of the total. The remaining event is: 1 head 1 tail......due to different order, events should be 2 Therefore the probability=0.5(1-2(1/2)^N)=0.5(1-(1/2)^(N-1)) Moins

sorry for all the typos, the solution should be understandable in spite of that.

This can be solved by considering the number of sequences of heads/tails that do NOT have consecutive heads. If N coins are tossed, you can have 0 heads in 1 way. You can have 1 head in N ways--choose 1 from any of the N positions in the sequence. You can have 2 heads as long as they are not consecutive. Imagine you have N-2 tails and you need to decide where to place the 2 heads. You can insert them before any of the tails, or after the last tail--so you need to choose 2 out of a possible N-1 positions. Similarly, for any H less than or equal to N/2, you can have H heads by selecting H positions from a possible (N-H)+1 positions. So the number of sequences which do NOT have two consecutive heads can be found by the sum: 1 + nCr(N,1) + nCr(N-1,2) + nCr(N-2,3) + ... Evaluating this starting with N = 2 gives the values 3, 5, 8, 13, 21, 34, ... These are Fibonacci numbers. The number of sequences of length N without 2 consecutive heads is given by F_{N+2}, where F_1 = 1, F_2 = 1, and F_N = F_{N-1} + F_{N-2}. It follows that the probability for obtaining two consecutive heads in N flips of a fair coin is given by 1 - ( F_{N+2}/ 2^N). Note: j-dw has a correct solution. The solution given by Charles ignores the fact that many sequences will have BOTH two consecutive tails AND consecutive heads. He treats these as non-overlapping sets. Delusion ignores all cases such as HTTHTTHTT in which there is more than one T separating the heads. Moins

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