SOLUTION: A game involves tossing two coins and receiving 70¢ if they are both heads. What is a fair price to pay for the privilege of playing this game twice?

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Question 871810: A game involves tossing two coins and receiving 70¢ if they are both heads. What is a fair price to pay for the privilege of playing this game twice?
Answer by richwmiller(17219) About Me  (Show Source):
You can put this solution on YOUR website!
There are 4 possibilities
HT
HH
TT
TH
So you have 1 out of 4 or 25% chance of winning.
If it cost 70/4=17 1/2, it would be even.