o An unfair coin is flipped. If a head turns up, you win 31.a tallume up...

Question

Question

Answer 1

Answer #1

The probability of head turns up = 0.53

After head turns up amount won = $1.

The probability of tail turns up = 0.47

After tail turns up amount lose = $1

Hence the expected value is

E(X) = 0.53(1) + 0.47(-1)

= 0.53 - 0.47

=0.06

Hence answer is $0.06

Answer 2

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