Ask questions and get helpful answers.

Your friend tosses 3 coins and you roll a single die. If the number on the die you roll is less than or equal to the number of heads that your friend tosses, you win $X. If not, you lose $1. How large should X be in order for this to be a fair game?

  1. 👍
  2. 👎
  3. 👁
  4. ℹ️
  5. 🚩

1 answer

  1. Htt tHt ttH
    HHt tHH HtH

    Each of these probabilities is 1/8

    Now multiple each by the probability of getting the die equal or less..

    and so on Add all the cases, and add the probabilities. That is the probability of winning.

    Expected value= Probability of winning*X-(1-Prwinnig)1

    So you have to calculate X so that the expected value is =0 for a fair game.

    1. 👍
    2. 👎
    3. ℹ️
    4. 🚩

Answer this Question

Related Questions

Still need help?

You can ask a new question or browse existing questions.