Brainteaser - Heads-or-Tails Oracle
Heads-or-Tails Oracle
Probability
Jane Street
A coin with an unknown head-probability \(p\) will be flipped 100 times. Before each flip you may announce "heads" or "tails"; a correct call earns \(\$1\), a wrong one earns nothing. You may update your strategy after seeing previous outcomes. What is your expected total payoff (as a function of \(p\)) if you play optimally?
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