in gambling game a man is paid $5 if he gets all heads or all tails when 3 coins are tossed and he pays out $3 if either 1 or 2 heads appears. calculate his expected gain


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Question Number 123390 by aurpeyz last updated on 25/Nov/20

$i n g a m b l i n g g a m e a m a n i s p a i d $ 5$ $i f h e g e t s a l l h e a d s o r a l l t a i l s w h e n$ $3 c o i n s a r e t o s s e d a n d h e p a y s o u t$ $$ 3 i f e i t h e r 1 o r 2 h e a d s a p p e a r s .$ $c a l c u l a t e h i s e x p e c t e d g a i n$
	Answered by talminator2856791 last updated on 25/Nov/20

	$P ($ 3) = \frac{6}{8} = \frac{3}{4}$ $P ($ 5) = \frac{2}{8} = \frac{1}{4}$ $\frac{1}{3} P ($ 3) = P ($ 5)$ $he gains $ 5 he loses $ 9$ $expected gain $ - 4$
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