Tossing a coin 3 times

[kukinessa]

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 willing to pay to play this game?
d. Consider the effect of a change in the game so that if tails comes up two times in a row, you get nothing. How would your answers to the first three parts of this question change?

please help me with that

[Whitney Garner]

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 willing to pay to play this game?
d. Consider the effect of a change in the game so that if tails comes up two times in a row, you get nothing. How would your answers to the first three parts of this question change?

please help me with that

Hi kukinessa!

Unfortunately these questions are not very representative of questions you might be asked on the GMAT (expected value and complex probabilities are NOT topics covered).

The answers to these might be better found on a Math or Statistics forum.

Best of luck!
Whit