The Leprechaun's Gold

Probability Level 1

A pot has 10 gold coins and 90 iron coins. All the coins are identical to touch.

A lottery with 10 participants is held. Each has a chance to pick just one coin from the bag, without looking. If the coin is gold, the participant will get $10,000. There are no prizes for iron coins.

The 10 participants can mutually agree to pick one of the following strategies to increase the chances of at least one of them getting a prize.

Strategy A : A participant picks up a coin, views it, claims the prize if it is gold and accepts his luck if it is not. He then returns the coin to the bag before thoroughly shuffling it.

Strategy B : Same as Strategy A, however, the picked coin is not returned to the bag.

Which strategy gives a better chance for at least one win?


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