Two coins are tossed. You win $6.00 if both coins are heads and $3.00 if both coins are tails. You lose $4.00 if the coins do not match. What is the expected value of this game? Is this a fair game? The expected value is $ Is this a fair game? O This is a fair game. This is not a fair game.

Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter10: Sequences, Series, And Probability
Section: Chapter Questions
Problem 35T
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Two coins are tossed, You win $6.00 if both coins are heads and $3.00 if both coins are tails. You lose $4.00 if the coins do not match. What is the expected value of this game? Is this a fair game?
The expected value is $
Is this a fair game?
O This is a fair game.
This is not a fair game.
Click to select your answer(s).
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Transcribed Image Text:Two coins are tossed, You win $6.00 if both coins are heads and $3.00 if both coins are tails. You lose $4.00 if the coins do not match. What is the expected value of this game? Is this a fair game? The expected value is $ Is this a fair game? O This is a fair game. This is not a fair game. Click to select your answer(s). 534 PM 2/22/2021 Prt Scn PgUp PgDn DII x F4 Home End Esc F3 F1 @ %23 %24 Back 3 4. 6. 8. 9. R. Y Tab Caps D G
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A game is fair when its expected value is zero.

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