Question

to play the nickel game a player tosses two coins at the same time if both coins land tails then the player wins $1 if both coins land heads up then they win $2 suppose you play this game 12 times and it costs $1 to play how much money could a player win or lose explain your answer

Answer 1

expected return:
both tails = (1/4)($1) = $.25
both heads = (1/4)($2) = $.50
Since it costs $1.00 to play, the expected win is $75, so a loss of 25 cents per game

Then in 12 games .....