Jane StreetTraderQuant Trading InternQuestion #642
You play a 100-round game: in each round, you can either roll a fair 20-sided die (with outcomes 1 to 20) or 'lock in' the current face value and collect that same reward for all remaining rounds. You must roll in the first round. What is your optimal stopping or locking strategy, and what is your expected value?
Unlock the Full Solution
Enter your email to get the detailed step-by-step solution to this Jane Street interview question, plus access to free interview prep resources.
We'll also send you a free HFT mock interview video.
More Jane Street Trader Questions
A car has a uniformly distributed value between 0 and 1000. If you bid less than this value, you get nothing but keep your bid. If you bid more than this value, you can sell the car for 1.5 times the value. What should you bid? The surface of a 3x3 block is painted. The block is split into 27 cubes and one is dropped on the floor. What is the probability that no visible face is painted? If no visible face is painted, what is the probability that it is the center cube?You flip 4 fair coins and receive $1 for each coin that lands heads. What is the expected value of your total winnings?If you roll two dice, and you have the option to roll again and get paid the highest roll, when is it optimal to reroll?What is 2,000,000 minus 2,022?How many digits does 99 raised to the 99th power have?
Get All 664+ Jane Street Questions with Solutions
Plus 16+ hours of video lectures, resume tailoring, and 1:1 mentorship from quants.
Schedule a Call