Math

You are given 9 to 1 odds against tossing three heads with three coins, meaning you win $9 if you succeed and you lose $1 if you fail. (Find the expected value of the described game. Would you expect to win or lose money in 1 game? in 100 games? Explain.

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  1. (1/8*9)-(7/8*1) = 1.125-.875 = .25
    100 games you are expected to lose
    1 game you are equally likely to win or lose

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  2. You are given 55 to 44 odds against tossing three headsheads with three​ coins, meaning you win ​$55 if you succeed and you lose ​$44 if you fail. Find the expected value​ (to you) of the game. Would you expect to win or lose money in 1​ game?

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