1. CoinGame #2: You play a new game with coinswhere you flip a coin twice. You win $2for both being “heads”, you win $3 for both being “tails”, and you lose $4otherwise. If you played this game manytimes, what would you expect to be your average amount won or lost pergame?
P(win$2)=1/4
P(win$3)=1/4
P(lose$4)=1/2
Expected value of win: (1/4)(2)+(1/4)(3)=5/4
Expected value of lose: (1/2)(-4)= -2(不知道答对了没,怕题目没理解对)
2. MoreRoulette: You decide that you will spendan entire day playing roulette and just betting on the “1stDozen”. This means that you win the betif any of the numbers 1 through 12 come up, but you lose otherwise. This type of bet has a 2:1 payoff. You decide that you will be making $5 bets.
A) Whatis the expected value of this betting strategy?
B) Ifyou end up making a total of 200 bets of this type, how much money would youexpect yourself to have won or lost at the end of the day?
3. Youplay a game where you flip a coin and roll a die each time you play. If you get a “heads” on the coin, then a rollof 1 or 2 wins $12, a roll of 3, 4, or 5 loses $10, and a roll of 6 winsnothing. If you get a “tails” on thecoin, then a roll of 1, 2, or 6 loses $6 and a roll of 3, 4, or 5 wins $9.
A) Whatis the expected value of playing this game?
B) A“fair” game is a game that has an expected value of 0. How much would I have to charge a player pergame for this to be a “fair” game?