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:
Average -2.00/4 = -0.50
Decide for yourself.
- math - natalie, Sunday, February 27, 2011 at 10:11am
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?
- math-typo - MathMate, Sunday, February 27, 2011 at 10:29am
Sorry that I misread the payment scheme.
So it is now:
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
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