SOLUTION: A certain game involves tossing 3 fair coins. It pays 25 cents for 3 heads, 15 cents for 2 heads, and 6 cents for 1 head. What is a fair price to pay to play this game?

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Question 1138271: A certain game involves tossing 3 fair coins. It pays 25 cents for 3 heads, 15 cents for 2 heads, and 6 cents for 1 head. What is a fair price to pay to play this game?
Answer by ikleyn(52781)   (Show Source): You can put this solution on YOUR website!
.
The probability to have 3 heads is  = .


The probability to have 2 heads is  = .


The probability to have 1 heads is  = .


The mathematical expectation of the winning amount of this game is



     +  +  =  =  =  cents.


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