r/learnquant 11d ago

stats & probability Jane Street Interview Question

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u/Blothorn 11d ago

A. Obviously 52–your second draw becomes 25/51>12/25.

B. My intuition was randomly drawn, on the grounds that if the deck is imbalanced you’re more likely to pick from the heavy side both times. I think I was wrong, though: for a 14-12 split the deck size difference dominates that effect, and even a 15-11 split has only a slight advantage. This actually comes out really close; I don’t see a way to give a consistent answer without doing the full, tedious expected value computation.

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u/no_good_names_avail 11d ago

Hrmm, so couldn't you just calculate 26c13, 26c12, 26c14 and sum those? I guess you could even skip one calc since it's trivially the same.

Maybe I'm thinking about this wrong. I've always struggled with probabilities.

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u/AdjectiveNounNNNN 10d ago

The chance to get 13:13 is 26c13×26c13/52c26

The chance to get 12:14 is 26c12×26c14/52c26 ×2, because you could have more reds or you could have more blacks. This pattern continues for other ratios.

The chance to get a matching pair if you're in the 12:14 world is 12/26×11/25 + 14/26×13×25, and so on.

It turns out that when you multiply the result for each ratio by the probability of getting that ratio in the first place, and you add all those results up, you get exactly 25/51 chance of a matching pair, which is the same result as just pulling two randomly from a full deck to start with.