What is the expected value to you of the following game : You and another person have 3 coins each. You both flip all of your coins and if your three coins show the same number of tails as the other person, you pay them $2, otherwise they pay you $1.

Question

Mathematics

Layton Parsons

15 July, 08:19

What is the expected value to you of the following game : You and another person have 3 coins each. You both flip all of your coins and if your three coins show the same number of tails as the other person, you pay them $2, otherwise they pay you $1.

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Madilyn Whitney · Answer 1

The expected value should be a 1/3 change because you have three coins each, then 1/6 altogether change or randomization the most realistic highest expected value is you paying them 2$