Fair is foul. Someone has a weighted coin that lands heads up with probability 2/3 and tai

Apr 21st, 2015
Anonymous
Category:
Engineering
Price: $5 USD

Question description

Fair is foul. Someone has a weighted coin that lands heads up with probability 2/3 and tails up with probability 1/3. If the coin comes up heads, you pay $1; if the coin comes up with tails, you receive $1.50. What is the expected value of this game? Would you play? Why or why not? Explain your reasoning.


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(Top Tutor) JohntheProfessor
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