Trainee Trader Interview Questions

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A number from 0-1 is put on a piece of paper. You and Person X are playing a game. You have to get less than the number on the paper, but above X's guess. You know X chooses to pick a number at random. What is the lowest number you can choose to max. your probability of winning?
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Trader

Interviewed at Jane Street

4.4
Sep 27, 2010

A number from 0-1 is put on a piece of paper. You and Person X are playing a game. You have to get less than the number on the paper, but above X's guess. You know X chooses to pick a number at random. What is the lowest number you can choose to max. your probability of winning?

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