Solving Problems and Making Decisions, 5th Edition

Session A

Problems large andsmall

1   Introduction

Problems come in all forms, shapes and sizes. The problem in Activity I appears to be a simple one.

Activity 1

What would you do if you were offered the choice of:

a    receiving £1 million in one lump sum;

b    getting just one penny on the first day of a month, two on the second day, four on the third, eight pennies on the fourth and so on, to the end of the month?

It may look like a simple choice, but you would be well advised to sit down with pencil and paper and/or calculator, and work ...