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Ten people are on a life raft in the middle of the ocean. It is sinking and help is nowhere in sight. It has been determined that the raft is carrying too heavy a load and one person has to go overboard. No one wants to be that person. To be fair, they decided to draw lots. Ten straws were miraculously produced, 9 long and 1 short. They take turns drawing the straw. The first 6 people all drawn long straws, much to their relief. When it comes to the 7th person, he refused, saying the whole thing is not fair. He said the 1st person had 1 chance in 10 of going overboard, but he has 1 in 4. (4 straws left, 1 short and 3 long) The odds of 1 in 4 are a great deal larger than those of 1 in 10.Does he have a case? Is the procedure not fair?
Finance is about Gunns Ltd, a company in dealing with forestry products in Australia. The company has also been listed in Australian Stock Exchange. As many companies producing forestry products, even Gunns Ltd is facing various problems. Due to the ..
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