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Math

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A man comes up to play a game. you flip a coin, if heads you win $1 and keep playing if heads again you get $2, if you get heads again, $4 and so on. If you flip tails you take your money and the game is over. How much should he be willing to pay?

  • Math - ,

    it depends onhow many times he flipes it

  • Math - ,

    No it doesn't

  • Math - ,

    It does matter how many time he flips it. E(x) changes with every trial added.

    E(x)=Sum(P(u)X(u)) as u fulfills the total sample space

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