Question

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 asked by : @Malawah (the user could not post questions for some reason)

Answer 1

Thanks pooja

Answer 2

Pooja!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! the bewst mod ever

Answer 3

Here is the graph I was not able to attach @pooja195

Answer 4

so what is the proabability of each of those cases

Answer 5

@malawah are u there

Answer 6

Oh yes I just got your notification the theoretical probability of landing head or tails is .5

Answer 7

yes thats right i mean from the table you are given each of these cases is 1/8 th of the possible outides

Answer 8

outcomes*

Answer 9

i know the formula of finding expected value is (x1*p1)+(x2*p2)... and so on however i am confused on the X part since they are numbers do I multiply the x's by 0.5^3 and then continue with the formula

Answer 10

so u have
money set = {10,3,0,-3,10,-3,0,0}
each of these numbers is as likely

Answer 11

um i suggest you understand this formula

Answer 12

so the average of this set is the average value of the outcomes

Answer 13

{10,3,0,-3,10,-3,0,0}
avg of set = (10+3+0+-3+10+-3+0+0)/8
17/8=2+1/8

Answer 14

i have to go now, im sure @imqwerty , can explain to you about expected value

Answer 15

ask him what it means and how to find it

Answer 16

Thanks 518 I cant thank you enough

Answer 17

hello

Answer 18

hi :)

Answer 19

so after the coins are tossed we can get different outcomes
there can be 8 different outcomes as given in the list

now we need to find how much money will we end up with

probability of an outcome \(\times\) money received = total money we get

Answer 20

My computer is lagging i saw the beginning of your explanation what should I do?

Answer 21

I mean now i cant see it anymore im sorry

Answer 22

just keep following and ask if you get stuck anywhere =]

Answer 23

there are 8 possibilities
the probability to get the first any of those 8 possibilities is 1/8

so the total money will be this-

\(\frac{1}{8} \times 10+\frac{1}{8} \times 3+\frac{1}{8} \times 0+\frac{1}{8} \times -3+\frac{1}{8} \times 10+\frac{1}{8} \times -3+\frac{1}{8} \times 0+\frac{1}{8} \times 0\)

Answer 24

ooooooooooooooooooooo i understand now thanks qwerty :)

Answer 25

yw :)

Answer 26

@Malawah, you must have the Grammarly extension installed? :)
In order to post a question, that has to be uninstalled or disabled. Afterwards, you can enable it again. :)

Answer 27

Thanks @jabez177 UR A LIFE SAVER

Answer 28

it is 2.125

Answer 29

Expected value is the sum of the probability of each even times the outcome of the event.

So she wins $10 with probability 2/8, $3 with probability 1/8, $0 with probability 3/8, and loses $3 with probability 2/8.

So,
E = 10(2/8) + 3(1/8) + 0(3/8) - 3(2/8)
=5/4 + 3/8 - 3/4
=7/4 = $1.75