You are given 5 to 1 odds against tossing three heads with three coins, meaning you win $5 if you succeed and you lose $1 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.
You are given 5 to 1 odds against tossing three heads with three coins, meaning you win $5 if you succeed and you lose $1 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.
College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter9: Counting And Probability
Section: Chapter Questions
Problem 5CC
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You are given 5 to 1 odds against tossing three heads with three coins, meaning you win $5 if you succeed and you lose $1 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.
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