aez-notes

An urn contains 10 black balls and 10 white balls, identical expect for color. You choose "black" or "white." One ball is drawn at random, and if its color matches your choice, you get $10, otherwise nothing. Write down the maximum amount you are willing to pay to play the game. THe game will be played just once.

THe trick here is to realise that you won't get the amount you paid back, so a win gets you \(10-x\) if you paid \(x\).

solve((10 - x) / 2 - x / 2 = 0, x);