Why is a single 70% chance different to Ten 7% chances

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Like. I know they are different and that one is less likely. But could someone explain this in a way that I can explain it to my partner? I know it is true but cannot remember anything about why and how to explain my point.

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Anonymous 0 Comments

Take an extreme example of that question. Whats the difference between a 100% chance and two 50% chance? Would you rather have a 100% chance of getting a million dollars, or two 50% chances of a million dollars? The first case you get 1million dollars no matter what. The second case You have 25% chance of no money, 50% chance of 1 million and 25% chance of 2 million.

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