SOLUTION: A man is to play a game as follows. In three tosses of balanced coin, he will get a reward of RS. 20,000,RS.10,000 ,RS. 5,000 and no reward if he gets 3 tails, 2 tails, 1 tail and

Question 277427: A man is to play a game as follows. In three tosses of balanced coin, he will get a reward of RS. 20,000,RS.10,000 ,RS. 5,000 and no reward if he gets 3 tails, 2 tails, 1 tail and no tail respectively. whats is his expected return. If the entrance fee for contest is Rs. 7,000 will he play the game?
Answer by edjones(8007) (Show Source): You can put this solution on YOUR website!
(t+h)^3=
t^3=.5^3=1/8
3t^2h=3*.5^2*.5=3/8
3th^2=3/8
h^3=1/8
.
In 8 tries he spends 7000*8=56000
and wins
20000 all tails
30000 2 tails
15000 one tail
------add
65000
.
65000-56000=9000 is the expected return after 8 tries
.
9000/8=RS 1125 expected return per try.
.
Ed
RELATED QUESTIONS
A sales tax officer has reported that the average sales of the 500 business that he... (answered by Theo)

Mr. Mehta deposited Rs. 10,000 in HSBC bank at his sixth marriage anniversary and... (answered by Theo)

Company ABC estimates the net profit on a new product it is launching to be Rs. 3,000,000 (answered by CPhill)

The probability that a trainee will remain with a company is 0.6. The probability that an (answered by stanbon)

Aarushi has a total of RS 590 as currency notes in the denominations of RS 50, RS 20 and... (answered by stanbon)

The following information pertains to SK Traders for the three months ended 30 June 2021: (answered by ikleyn)

a man has a number of duks costing rs 10 each and three times as many chikens costing rs. (answered by stanbon)

A boy has Rs 728 in denomination of Rs 2 notes,Rs 5 notes and Rs 10 notes in the ratio (answered by ikleyn,josgarithmetic,MathTherapy)

A boy has Rs.726 in denomination of Rs.2notes, Rs. 5 notes and Rs 10 notes in the ratio... (answered by ikleyn)