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Probability of X>y =p1 y>z = p2 z>x =p3 ,find minimum of P1 +p2 +p3…

 
 
Reply Sat 22 Feb, 2014 12:38 am
X,Y and Z are 3 random variables such that

Probability of X>Y=p1,Y>Z=p2,Z>X=p3

a) thus find maximum of p1+p2+p3

b) what is the maximum that minimum value of p1,p2 and p3 may take?

Hint is provided as : consider set theory operation.

My thinking process - let us define the events X>Y =A, Y>Z =B, Z>X =C

Now P(AUBUC) = p1 + p2 + p3 -p1p2 -p2p3 -p3p1 + 0

now P(AUBUC) is at most 1 therefore i have the inequality ==> p1 + p2 + p3 <= p1p2 +p2p3 +p3p1 + 1

i don't know how to proceed further! maybe some geometric figures .etc etc !

thanks!
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markr
 
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Reply Sat 22 Feb, 2014 01:14 pm
@luxiaojun,
I'm not sure how to proceed, but:
a) max(p1+p2+p3)>= 2
let p1 = 1, p2 = 1, and p3 = 0
b) max(min(p1,p2,p3)) >= 5/9
see wikipedia article on nontransitive dice
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