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Could u also colud help me with the last one? 
this is the the last question connected with that exercise as well: Consider the effect of a change in the game so that if tails comes up two times in a row, you get nothing. the same question but different situation
- by kukinessa
Fri May 13, 2011 4:35 pm- Forum: Quantitative Reasoning
- Topic: Tossing a coin 3 times
- Replies: 5
- Views: 2193
but it is 8 possibilities for the outcome of the flip so doesnt that connected somehow in calculations? shouldn I multiply all the outcomes by 1/8 ?I cannot see the point of probability 1/3 in flipping a coin when it should be 1/2
- by kukinessa
Fri May 13, 2011 4:19 pm- Forum: Quantitative Reasoning
- Topic: Tossing a coin 3 times
- Replies: 5
- Views: 2193
Tossing a coin 3 times
2. Consider a game in which a coin will be flipped three times. For each heads you will be paid $200. Assume that the coin comes up heads with probability 1/3. a. Construct a table of the possibilities and probabilities in this game. b. Compute the expected value of the game c. How much would you be...
- by kukinessa
Fri May 13, 2011 2:04 pm- Forum: Problem Solving
- Topic: Tossing a coin 3 times
- Replies: 1
- Views: 1075
Tossing a coin 3 times
Please help me with this one: the coin will be flipped 3 times. For each head you will be paid 200$. Assume that the coin comes up heads with probability 1/3. How to compute an expected value of the game? How much u will be willing to pai to play thi game? construct posibilities and probabilities. I...
- by kukinessa
Fri May 13, 2011 1:50 pm- Forum: Quantitative Reasoning
- Topic: Tossing a coin 3 times
- Replies: 5
- Views: 2193