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.

Question

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

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.