You are given 9 to 1 odds against tossing three heads with three coins, meaning you win $9 if you succeed and you lose $1 if you fail. (Find the expected value of the described game. Would you expect to win or lose money in 1 game? in 100 games? Explain.

Answer 1

(1/8*9)-(7/8*1) = 1.125-.875 = .25
100 games you are expected to lose
1 game you are equally likely to win or lose

Answer 2

You are given 55 to 44 odds against tossing three headsheads with three​ coins, meaning you win ​$55 if you succeed and you lose ​$44 if you fail. Find the expected value​ (to you) of the game. Would you expect to win or lose money in 1​ game?