Proof was in the jars | Silver Coins

Proof was in the jars

Abolishing the cent and rounding all money transactions to the nearest nickel issues some people.

They do not believe probability, which indicates if you round down all transactions that finish with a single or two cents and round up all transactions that have a total ending in 3 or four cents that more than time you break even.

This reminds me of a couple I know who are avid Cribbage players. Both are extremely very good. I know, I have played with them. I certainly would not play either of them for funds.

But the husband seems to win far more frequently, though my impression is not enough grounds to make that judgment. What I can say is he clearly enjoys the game and that is usually evident.

His wife was a quieter player.

At some point, as the wife related the story to me that they decided to test their assumption that the husband won far more frequently.

If he won, a dollar was put in his jar. If she won, a dollar was place in her jar. Right after a period of time, which my foggy memory does not recall, they counted the cash in every jar.

What was the outcome?

It was a virtual tie, according to the wife.

That was undoubtedly not the impression you might obtain from watching the two of them play, but that turned out to be the reality of the situation.

The very same is true with rounding. It may not seem that rounding is a break-even proposition, but it is.


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