Quiz 3
You are given two envelopes. Inside each of these envelopes is written a positive number, which corresponds to the number of francs you win if you choose this envelope.
You open one of the two
envelopes and read the number there (say 200). Then you are offered the
possibility to change your mind and choose the other envelope, or to
stick to your first choice.
Besides, you are given a random number generator which draws an exponential random variable at random.
Is there a strategy that you can use to increase beyond 50% your chances of picking the envelope with the highest amount?
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