Answered step by step
Verified Expert Solution
Question
1 Approved Answer
How did the answer shown in the screenshot below arrive at 49/100 for a heads or tails flip? Please provide the breakdown of the logic
How did the answer shown in the screenshot below arrive at 49/100 for a heads or tails flip? Please provide the breakdown of the logic for how we arrived at 49/100 for a heads or tails flip in the answer shown in the screenshot below.
6. (8 points) A two-sided but very thick com is expected to land on its edge twice out of every 100 flips. And the probability of heads and the probability of tails are equal. When the coin is flipped, the prize is $1 for heads, $2 for tails, and $50 when the coin lands on its edge. Find the expected value of the prize on a single coin toss. E(X) = 1 X 41+ 2X- +50X 180 49/100 2 44/100 = 2.47 SD TotalStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started