document.write( "Question 1197245: A game involving tossing 2 coins and receiving 58 cents if they are both heads what is a fair price to pay for the privilege of playing this game twice \n" ); document.write( "

Algebra.Com's Answer #830443 by ikleyn(52781) $\"\"$ $\"About$

You can put this solution on YOUR website!
.
\n" ); document.write( "A game involving tossing 2 coins and receiving 58 cents if they are both heads.
\n" ); document.write( "What is a fair price to pay for the privilege of playing this game twice?
\n" ); document.write( "~~~~~~~~~~~~~~\r
\n" ); document.write( "
\n" ); document.write( "\n" ); document.write( "

\r\n" );
document.write( "The probability to win in each game is 1/4 = 0.25.\r\n" );
document.write( "\r\n" );
document.write( "\r\n" );
document.write( "The fair price to play this game once is   =  = 14.5 cents.\r\n" );
document.write( "\r\n" );
document.write( "\r\n" );
document.write( "The fair price to play this game twice is  2*14.5 cents = 29 cents.    ANSWER\r\n" );
document.write( "

\r
\n" ); document.write( "\n" ); document.write( "Solved and explained.\r
\n" ); document.write( "
\n" ); document.write( "
\n" ); document.write( "\n" ); document.write( "////////////////\r
\n" ); document.write( "
\n" ); document.write( "
\n" ); document.write( "\n" ); document.write( "The answer in the post by @MathLover1 is incorrect.\r
\n" ); document.write( "
\n" ); document.write( "
\n" ); document.write( "\n" ); document.write( " \n" ); document.write( "

\n" );