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are given 3 to 1 odds against tossing three tails with three coins, meaning you win $3 if you succeed et to win or lose money in 1 game? In 100 games? Explain. the expected value (to you) for the game. as needed)

are given 3 to 1 odds against tossing three tails with three coins, meaning you win $3 if you succeed et to win or lose money in 1 game? In 100 games? Explain. the expected value (to you) for the game. as needed)

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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You are given 3 to 1 odds against tossing three tails with three coins, meaning you win $3 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. Find the expected value (to you) for the game. VS (Type an integer or a decimal rounded to the nearest hundredth as needed.)
Transcribed Image Text:You are given 3 to 1 odds against tossing three tails with three coins, meaning you win $3 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. Find the expected value (to you) for the game. VS (Type an integer or a decimal rounded to the nearest hundredth as needed.)
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