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EXPECTED VALUE

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avatar+127 

Suppose you have a weighted coin in which heads comes up with probability 3/4 and tails with probability 1/4. If you flip heads, you win 2 dollars, but if you flip tails, you lose 1 dollar. What is the expected value of a coin flip? Express your answer as a decimal.

 Oct 23, 2018
edited by MATHEXPERTISE  Oct 23, 2018

3+0 Answers

 #1
avatar+6248 
0

\(\text{let }P[\text{heads}] = p\\ E[V] = 2p -(1-p) = 3p-1\)

 

I suspect there were numbers for p and (1-p) but they didn't come through.

 Oct 23, 2018
 #2
avatar+127 
0

ur right, I changed that :D

 Oct 23, 2018
 #3
avatar+6248 
0

i'm gonna assume you can plug p=3/4 in

Rom  Oct 23, 2018

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