An episode with "funny" questions. I don't believe it makes sense to ask people to guess a number and then reveal the correct one without further explanation.
1. The three hand problem
You pick a hand with better than 33% equity and the best hand won't be 66% against two other random hands on average, so it is somewhere inbetween. I am sure Grizzle knew this also and that he meant the edge over the initial 33%. So "correctly" formulated, his answer would have been 58%.
2. The buy-in amount
The answer to this and similar problems depends on the utility of money. In the end, you won't risk your life to play in this tournament even if the EV was unlimited, so the answer can never be "I play for everything". You shouldn't do that even if they play the national anthem and give you a medal for participating.
Here is a nice example for the combination of +EV and variance:
http://forumserver.twoplustwo.com/29...ayers-1418516/
One final observation: Even if Grizzle was completely off on almost anything, it doesn't mean that he cannot be good at something. He was certainly good enough to make a living from Poker for quite a while.
Last edited by Shandrax; 02-26-2015 at 04:51 AM.