How can gambling systems be considered unreliable methods for decision-making?

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Discussion Overview

The discussion revolves around the calculation of the Q function in a specific example from a text, focusing on the interpretation and application of equations related to gambling systems. The scope includes mathematical reasoning and clarification of notation used in the equations.

Discussion Character

  • Technical explanation, Homework-related, Mathematical reasoning

Main Points Raised

  • One participant requests clarification on how the author calculated Q(0.9) = 0.88 using equation 7.31.
  • Another participant questions whether the Q function refers to the quantile function.
  • A participant emphasizes the need for clarity on the notation used, specifically Wn and F, suggesting the inclusion of a notational index.
  • A later reply provides a definition for Wn as the wager amount for the nth bet and shares their own calculation of Q(0.9) = 0.88 using a different formula.

Areas of Agreement / Disagreement

Participants express a need for clarification on notation and calculation methods, but there is no consensus on the interpretation of the Q function or the specific calculation process.

Contextual Notes

Limitations include potential ambiguity in notation and the lack of a clear notational index, which may affect understanding of the equations discussed.

woundedtiger4
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Hi all,

I have attached a file in which at last page in example 7.8 I am stuck. I don't understand that how the author has calculated the Q(0.9)=.88 by using equation 7.31, can someone please show me the calculation process?

Thanks in advance.
 

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Hey woundedtiger4.

Is the Q function the quantile function?
 
It would be helpful to know what Wn, F, etc. , stand for. If you have a notational index, please include it if possible.
 
Bacle2 said:
It would be helpful to know what Wn, F, etc. , stand for. If you have a notational index, please include it if possible.

Thanks to everyone for being so much helpful, W_n is the (amount) wager to place on nth bet.
W_n = f_n{X_1, X_2, X_3,...X_n-1}

I have managed to calculate Q(.9)=.88 by using the first formula on on first page.

Once again many thanks to all of you who showed interest.
 

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