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Optimal Strategy on [0,1] | Dataford Interview Questions

All questions/Statistics & Probability

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Optimal Strategy on [0,1]

HardExpected ValueConditional Probability

Problem

Three players must pick a number on a continuous segment [0, 1]. A random number is then drawn from a uniform distribution on that same segment, and the player whose chosen number is closest to the drawn number wins. What is the optimal strategy, and where should you place your number?

Problem

Three players must pick a number on a continuous segment [0, 1]. A random number is then drawn from a uniform distribution on that same segment, and the player whose chosen number is closest to the drawn number wins. What is the optimal strategy, and where should you place your number?

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