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
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-> 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
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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
