document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=62762>Question 62762</A>: <I><SPAN STYLE=\"word-break: break-all;\"> A certain game involves tossing 3 fair coins. It pays 29 cents for 3 heads, 12 cents for 2 heads, and 5 cents for 1 head. What is a fair price to pay to play this game? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #43613 by </B><A HREF=/tutors/aboutme.mpl?userid=stanbon><B>stanbon(75887)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=stanbon><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/images/nopicture.jpg><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=43613\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> A certain game involves tossing 3 fair coins. It pays 29 cents for 3 heads, 12 cents for 2 heads, and 5 cents for 1 head. What is a fair price to pay to play this game?<BR>\n" );
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document.write( "Prob of getting 3 heads = (1/2)^3=1/8<BR>\n" );
document.write( "Prob of getting 2 heads = 3/8<BR>\n" );
document.write( "Prob of getting 1 head  = 3/8<BR>\n" );
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document.write( "Expected earnings = (1/8)(29 cents)+(3/8)(12 cents)+(3/8)(5 cents)<BR>\n" );
document.write( "=(29+36+15)/8 cents<BR>\n" );
document.write( "=80/8=<BR>\n" );
document.write( "=10 cents<BR>\n" );
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document.write( "A fair price to play the game would be 10 cents that is<BR>\n" );
document.write( "your expected winnings.<BR>\n" );
document.write( "---------<BR>\n" );
document.write( "Cheers,<BR>\n" );
document.write( "Stan H.<BR>\n" );
document.write( "Cheers,<BR>\n" );
document.write( "Stan H. </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );