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Marty28, Investment Manager
Category: Homework
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Experience:  BA Economics GPA 4.0, Level 2 candidate in the CFA program, GMAT score 770
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One thousand dollars is wagered in a carnival shooting contest.

Resolved Question:

One thousand dollars is wagered in a carnival shooting contest. For this contest there is a water balloon sitting next to two competing contestants. A 6-Shooter revolver is sitting on a countertop in front of the contestants. At the start of the contest, a referee loads the fun with 3 pellets in a row in three of the chambers of the revolver. He then spins the barrel of the gun only once and sets the gun back down on the counter. The first contestant picks up the fun and fires it at the water balloon. If the gun does not fire, he passes it to the second contestant who does the same. If the fun does not fire again, it is passed back to the first contestant. This continues untill the water balloon is popped. Whoever pops the water balloon is declared the LOSER of the contest and forfeits the $1000.

The question is: If you wanted to win the $1000, is it better to the first shooter or the second shooter? Why?
Submitted: 7 years ago.
Category: Homework
Expert:  Marty28 replied 7 years ago.

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