In a game a player tosses three fair coins. He wins 10 if three heads occur, fx
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In a game a player tosses three fair coins. He wins 10 if three heads occur, fx if two heads occur, 3 if one head occurs and 2 if no heads occur. Express in terms of x his expected gain from each game. Given that he pays 4.50 to play each game, calculate
(a) the value of x for which the game is fair,
(b) his expected gain or loss over 100 games if (C Additional) x-4.90.
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Related Book For
A Concise Course In Advanced Level Statistics With Worked Examples
ISBN: 9780748754755
4th Edition
Authors: J. Crawshaw, J. Chambers
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