Trading assistant interview questions shared by candidates
If you have a deck of cards split into 4 piles and was offered 1:1 odds to draw a face card (J Q K A) from at least one of the piles, would you take the game? Why or why not?
No, basic statistics
I'm no expert but I don't see it that way. You lose the game if you draw non-face cards from all 4 piles. The probability of that is 39/52*38/51*37/50*36/49 = 30%. So you have a 70% chance of winning the game.
Yes, play the game at 1:1 odds. There are 16 face cards and 4 equal piles of 13 cards. By adding the probabilities of drawing a face card from at least 1 pile, you get 16/13. (1/13 + 1/13 + 1/13 + 13/13, or 4/13 + 4/13 + 4/13 + 4/13, and so on)...Doesn't matter how the face cards are arranged in the 4 piles. Thus, you would be willing to play the game at 1:1 odds.
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