9-11 State Maths Paper 2021. docx

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9-11 State Maths Paper 2021

You area broker your job is to accommodate your client’s wishes without placing any of your personal capital at risk. Your client wishes to place an even $1,000 bet on the outcome of the World Series, which is a baseball contest decided in favour of whichever of two teams first wins 4 games. That is, the client deposits his $1,000 with you in advance of the series. At the end of the series he must receive from you either $2,000 if his team wins, or nothing if his team loses. No market exists for bets on the entire world 2 series. However, you can place even bets, in any amount, on each game individually. What is your strategy for placing bets on the individual games in order to achieve the cumulative result demanded by your client

Task developed by Giacomo Rotolo-Ross, University of Sydney, 2020

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