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
    HHH
    ttt

    Each of these probabilities is 1/8

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

    example:
    HHt*2/6=2/48
    HtH=2/48
    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. 🚩
    👤
    bobpursley

Answer this Question

Related Questions

Still need help?

You can ask a new question or browse existing questions.