Let's pretend that I'm playing a game. The point of the game is to try and choose the boxes that have a prize inside. There are many boxes that I can choose from. Of the bronze boxes, 15% have a prize and I get three for $35.00. Of the silver boxes, 25% have a prize and I get 3 for $65.00. Of the gold boxes, 40% have a prize and I get 4 for $100.00. If I were to spend $9,100.00 on just one box type, which should I get?
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spending $9100
........ # of boxes got ......... expected # of prizes
bronze 3*9100/35 = 780 ..... 0.15*780 = 117
silver.. 3*9100/65 = 420 ..... 0.25*420 = 105
gold.. 4*9100/100 = 364 .... 0.40*364 = 145
go for gold !
........ # of boxes got ......... expected # of prizes
bronze 3*9100/35 = 780 ..... 0.15*780 = 117
silver.. 3*9100/65 = 420 ..... 0.25*420 = 105
gold.. 4*9100/100 = 364 .... 0.40*364 = 145
go for gold !