The Coupon Collector
The problem
A cereal company hides one of different coupons in every box, each one equally likely. You want to collect all coupons.
On average, how many boxes do you need to buy?
Tempting (but wrong)
Two common wrong answers:
- "Around boxes" — you'd think on average each box gives you a new one, so boxes should be enough.
- " or boxes" — accounting for some duplicates, you'd guess maybe double or triple.
Both badly underestimate the long tail of the last few coupons. Once you've collected 95 of 100, almost every box is a duplicate of something you have. That last 5% takes ages.