document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=63779>Question 63779</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Kindly  assist.\r<BR>\n" );
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document.write( "A game of chance consist of tossing 3 coins one . For every head that shows up one gain $ 300 and $  losses $ 200 for each tail that appears .\r<BR>\n" );
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document.write( "a) Determine the expected value of the game <BR>\n" );
document.write( "b) Dtermin the Standard deviation of the game<BR>\n" );
document.write( "c) It is prudent for one to play the game ? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #44484 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=44484\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> A game of chance consist of tossing 3 coins one . For every head that shows up one gain $ 300 and $ losses $ 200 for each tail that appears . <BR>\n" );
document.write( "a) Determine the expected value of the game <BR>\n" );
document.write( "b) Dtermin the Standard deviation of the game<BR>\n" );
document.write( "c) It is prudent for one to play the game ?<BR>\n" );
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document.write( "a)List the possible tossing results:<BR>\n" );
document.write( "HHH,HHT,HTH,HHT,HTT,THT,TTH,TTT<BR>\n" );
document.write( "Each has probability 1/8<BR>\n" );
document.write( "List the corresponding \"pay\" value of each:<BR>\n" );
document.write( "900,400,400,400,-100,-100,-100,-600<BR>\n" );
document.write( "Multiply each \"pay\" value by its corresponding probability<BR>\n" );
document.write( "then add the result to get the expected value:<BR>\n" );
document.write( "Expected Value = 1200/8=$150 <BR>\n" );
document.write( "b)I'll have to get back to this<BR>\n" );
document.write( "c)Yes it's prudent since the expected win is $150<BR>\n" );
document.write( "Cheers,<BR>\n" );
document.write( "Stan H. </SPAN>\n" );
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