A fair coin is tossed 3 times, and a player wins $10 if 3 tails occur, wins $5 if 2 tails occur, wins $ 2 if 1 tail occur and loses $5 if no tail occur. Find the expected value of the game. $3.25 $0.69 $325 $32.5

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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A fair coin is tossed 3 times, and a player wins $10 if 3 tails occur, wins $5 if 2 tails
occur, wins $2 if 1 tail occur and loses $5 if no tail occur. Find the expected value of
the game.
$3.25
$0.69
$325
$32.5
Transcribed Image Text:A fair coin is tossed 3 times, and a player wins $10 if 3 tails occur, wins $5 if 2 tails occur, wins $2 if 1 tail occur and loses $5 if no tail occur. Find the expected value of the game. $3.25 $0.69 $325 $32.5
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