Problem#6: A player tosses two fair coins. He wins $5 if 2 heads occur, $2 if 1head occurs and $1 if no heads occur. (i) Find his expected winnings. (ii) How much should he pay to play the game if it is to be fair?

Problem#6: A player tosses two fair coins. He wins $5 if 2 heads occur, $2 if 1head occurs and $1 if no heads occur. (i) Find his expected winnings. (ii) How much should he pay to play the game if it is to be fair?

Structural Analysis

6th Edition

ISBN:9781337630931

Author:KASSIMALI, Aslam.

Publisher:KASSIMALI, Aslam.

Chapter2: Loads On Structures

Section: Chapter Questions

Problem 1P

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Question

A player tosses two fair coins. He wins $5 if 2 heads occur, $2 if 1head occurs and $1 if no heads occur. (i) Find his expected winnings. (ii) How much should he pay to play the game if it is to be fair?

Problem# 6: A player tosses two fair coins. He wins $5 if 2 heads occur, $2 if
1head occurs and $1 if no heads occur. (i) Find his expected winnings. (ii) How
much should he pay to play the game if it is to be fair?

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