Question 436879: The game of heads up is played by flipping two coins. If they both land heasds up, you win $12. If only one lands heads up,you win$12. If no conis land heads up, you win $8. If you pay $15 to play the game each time the coins are flipped, is the game a fair game?
Answer by stanbon(75887)   (Show Source):
You can put this solution on YOUR website! The game of heads up is played by flipping two coins.
If they both land heasds up, you win $12.
If only one lands heads up,you win$12.
If no conis land heads up, you win $8.
If you pay $15 to play the game each time the coins are flipped, is the game a fair game?
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Random gain values: 12,12,8,-15
Matching probs are: 1/4,1/2,1/4,0
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E(x) = 12*(1/4)+12(1/2)+8(1/4)+-15(0)
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E(x) = 3+6+2 = $11
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I doubt that you have posted this problem correctly.
Cheers,
Stan H.
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