Got this problem in Max Dama hand out. Could not figure out a solution.
"Roll a die repeatedly. Say that you stop when the sum goes above 63. What is the probability that the second to last value was X. Make a market on this probability. Ie what is your 90 percent confidence interval."
I am a fresh PhD, trying to get a position in the industry. Some job sites ask for recommendation letters to be uploaded to their website. Now what kind of letter is required? I am sure what kind of letters are required in case of industry jobs.
It would be highly helpful if you guys can give...
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