you are playing a game where you flip 3 fair coins it cost $2 to play the game which you subtract from the winning. Calculate the expected value of the game if all coins show the same heads or tails, you win $9. otherwise you lose your $2.

Question

zarkon · Answer

do you know how to calculate the probability that you win?

turingtest · Answer

if you only win when you get all heads or all tails the odds of winning are 1/2*1/2*1/2=1/8. i think the question is poorly phrased: "Calculate the expected value of the game if all coins show the same heads or tails, you win $9" is a run on sentence that is throwing me off