You are given 3 to 1 odds against tossing three tails with three coins, meaning you win $3 if you succeed and you lose $1 if you fail. Find the expected value (to you) of the game. Would you expect to win or lose money in 1 game? In 100 games? Explain. Find the expected value (to you) for the game.

The expected value is the value of winning made on a game when played overtime. Hence, the expected value of the game is -$0.5 ; with the player losing -$0.5 in the long run.

A coin toss :

Sample space for 3 tosses :

Toss required to win = 3 tails :

Creating a discrete probability table :

The expected probability can be defined as :

E(X) = 3 × (1/8) + (-1) × 7/8

E(X) = 3/8 - 7/8 = - 4/8 = -1/2

Therefore, the expected value of the game = - 0.5 ; meaning that, I'll lose 0.5 in the long run.

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Step-by-step explanation:

x= 149. 24+7=31. 180-31=149

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