You are given 5to4 odds against tossing three tails with three coins , meaning y

Question

You are given 5to4 odds against tossing three tails with three coins , meaning you win 5 if you succeed and you lose 4 if you fail. Find the expected value of the game. Would you expect to win or lose money in 1 game You are given 5to4 odds against tossing three tails with three coins , meaning you win 5 if you succeed and you lose 4 if you fail. Find the expected value of the game. Would you expect to win or lose money in 1 game × @ Stely plan hactce-Na chapterld-88sld 3&objectiveld-5;&sing; Secure htp/ww.ma MTH/216(50) 7.C The Law of Large Numbers 1 of 2 (1 complete) Objective: Calculate expected value of games 37C.15 You are given 5 to 4 ods aganst tossing three tails wth three coins, meaning you win $5 if you succe Would you expect to win or lose money in 1 game? In 100 games? Explain Find the expected value (to you) for the game (Type an integer or a decimal rounded to the nearest hundredth as needed) Enter your answer in the answer box and then click Check Answer ans 2. remaining Clear A wl

Explanation / Answer

We have 5 to 4 odds against tossing three tails with three coins we win $5 if we succeed else we lose $4 and we fail.

Expected value for the game = 5 * 1/8 + 4 * 7/8

Expected value for the game = 0.625 + 3.5

Expected value for the game = 4.13 $ (rounded to hundredth as needed)

Expected value for the game = 4 $ (Typed as an integer)

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