Outcome Payout HHH $10 HHT $3 HTH $0 HTT -$3 TTT $10 THH -$3 THT $0 TTH $0 Kara is playing a game where she flips a coin 3 times. She wins and loses different amounts of money based on the outcomes. What is the EXPECTED VALUE for the game?

Question

anonymous · Answer

multiply the amount you win times the probability you win that amount and add it all up

anonymous · Answer

these are the answer choices
	

A)
	$0 	
	

B)
	$2.13 	
	

C)
	$3.29 	
	

D)
	$4.14 
but i keep getting like 1.25

anonymous · Answer

you can ignore the payoffs of zero, because they contribute nothing, so it will be
$$\frac{10+3-3-3}{8}$$

anonymous · Answer

no that was wrong
$$\frac{10+10+3-3-3}{8}$$

anonymous · Answer

look like 
$$\frac{17}{8}=2.125$$ so i guess you are supposed to go with $2.13

anonymous · Answer

2.125? so round to 2.13?

anonymous · Answer

yeah i think so, round since it is money but really it is 2.125 right

anonymous · Answer

so is it like just the average?

anonymous · Answer

exactly like an average, yes

anonymous · Answer

okay thank you

anonymous · Answer

yw