An unfair coin is flipped. If a head turns up, you win $1. If a tail...

Question

Question

An unfair coin is flipped. If a head turns up, you win $1. If a tail turns up, you lose $1. The probability of a head is.36 a

Answer 1

Answer #1

Solution :

Mean = E(x) = ΣxP(x) = 1*0.36-1*0.64 = -0.28

E(x) = -0.28 dollars

win lose Total х 1 -1 0.64 1 P(x) xP(x) 0.36 0.36 -0.64 -0.28

Answer 2

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