Posted by **natalie** on Sunday, February 27, 2011 at 9:28am.

You and your friend each have a coin. For each round, each of you flips your coin. If both coins show heads, your friend pays you $3. If both show tails, your friend pays you $1. If the coins don't match, you pay him $2. Is this a fair game?

- math -
**MathMate**, Sunday, February 27, 2011 at 9:39am
The four possible outcomes are:

outcome payment

H/H +3.00

H/T -2.00

T/H -2.00

T/T -1.00

Average -2.00/4 = -0.50

Decide for yourself.

- math -
**natalie**, Sunday, February 27, 2011 at 10:11am
mathmate~

in the last part of the list T/T you have a -1.00 but shouldnt it be +1.00? does that then change the final answer?

thank you!!

- math-typo -
**MathMate**, Sunday, February 27, 2011 at 10:29am
Definitely!

Sorry that I misread the payment scheme.

So it is now:

outcome payment

H/H +3.00

H/T -2.00

T/H -2.00

T/T +1.00

Average 0.00/4 = 0.0

I suppose the result is now evident.

- math -
**natalie**, Sunday, February 27, 2011 at 10:35am
thank you! :)

- math :) -
**MathMate**, Sunday, February 27, 2011 at 11:27am
:)

## Answer this Question

## Related Questions

- Math-Probability - You have a friend who claims to be psychic. You don't believe...
- Probability - You and a friend play the following game: You pay your friend $3 ...
- math - a fair coin is tossed in the air 4 times. if the coin lands heads up the ...
- maths - Suppose there are 10 coins laid out in front of you. All of the coins ...
- probability - urgent till 3 pm i have in colombiaˇ 1 Alice has five coins in a ...
- Probability - Alice has five coins in a bag: two coins are normal (i.e., fair ...
- probability - Tossing a pair of coins We have a white coin, for which P(Heads)=0...
- math - Your friend is tossing a coin. He says that heads and tails are equally ...
- math - Suppose you toss a coin and it you win a dollar if it comes up heads. If ...
- Math - we have 2 coins: coin 1 comes up with the probability of tails of 2/3 ...