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Suppose that we win  3 dollars if we flip a heads on a coin toss, but lose 2 dollars if we flip tails. What is the expected value, in dollars, of our winnings after one flip?

 Feb 4, 2021
edited by Guest  Feb 4, 2021
 #1
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P(heads)   = 1/2

P(tails)  = 1/2

 

Expected value  =   

amt won * probability - amt lost * probability  =  3(1/2)   - 2(1/2)  =   3/2   -  1   =   1/2  dollar = 50 cents

 

 

 

cool cool cool

 Feb 4, 2021
 #2
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THANK YOU! You are correct!

 Feb 4, 2021

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