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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 win of a coin flip in dollars?

 Jun 2, 2021
 #1
avatar+119785 
+1

Expected  value  =

 

Probability  of Winning * Amt  Won  -   Probability of Losing * Amt Lost  =

 

(3/4) ($ 2)   - (1/4) ($1)   =

 

1.50    -  .25   =

 

$1.25

 

 

cool cool cool

 Jun 2, 2021
 #2
avatar+32614 
+1

  Thanx , Chris....I answered this incorrectly the other day....   I edited it after you showed how to calculate it .....( I incorrectly divided the result by 2 )

ElectricPavlov  Jun 2, 2021
edited by ElectricPavlov  Jun 2, 2021

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