ertain game involves tossing 3 fair coins, and it pays 11e for 3 heads, 7¢ for 2 heads, and 5¢ for 1 head. Is 7¢ a fair price to pay to play this gamet at is, does the 7¢ cost to play make the game fair? a fair price to pay because the expected winnings aree he 7¢ cost to play Type an integer or a fraction Simplify your answer)

College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter9: Counting And Probability
Section9.4: Expected Value
Problem 25E
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Question
ertain game involves tossing 3 fair coins, and it pays 11e for 3 heads, 7¢ for 2 heads, and 5¢ for 1 head. Is 7¢ a fair price to pay to play this gamet
at is, does the 7¢ cost to play make the game fair?
a fair price to pay because the expected winnings aree
he 7¢ cost to play
Type an integer or a fraction Simplify your answer)
Transcribed Image Text:ertain game involves tossing 3 fair coins, and it pays 11e for 3 heads, 7¢ for 2 heads, and 5¢ for 1 head. Is 7¢ a fair price to pay to play this gamet at is, does the 7¢ cost to play make the game fair? a fair price to pay because the expected winnings aree he 7¢ cost to play Type an integer or a fraction Simplify your answer)
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