You are given 5 to 4 odds against tossing three heads with three coins, meaning you win $5 if you succeed and you lose $4 if you fail. Find the expected value (to you) of the game. Would you expect to win or lose money in 1 game? In 100 games? Explain.

asked by tom

5 years ago

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1 answer

P(HHH) = 1/8
So, E(x) = 1/8 * 5 - 7/8 * 4

answered by oobleck

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Question

You are given 5 to 4 odds against tossing three heads with three coins, meaning you win $5 if you succeed and you lose $4 if you fail. Find the expected value (to you) of the game. Would you expect to win or lose money in 1 game? In 100 games? Explain.

1 answer

P(HHH) = 1/8
So, E(x) = 1/8 * 5 - 7/8 * 4

oobleck · Answer

P(HHH) = 1/8 So, E(x) = 1/8 * 5 - 7/8 * 4