126k views
2 votes
You play a game where you are given 2 dollars. Then you flip a coin. If it’s heads, you double your money. If it’s tails, the game ends and you walk away with your money. How much are you willing to pay to play?

2 Answers

4 votes

Answer:

on khan Academy the first answer is 0.19. sec one is 0.38. then play game 2 all 30 times witch for me is B

Explanation:

User Khan
by
8.9k points
3 votes

Answer with explanation:

→Probability of getting head when you toss a coin once
=(1)/(2)

=50%

Probability of getting tail when you toss a coin once
=(1)/(2)

=50%

So, probability of winning as well as loosing is 50%.

→Money provided for playing the game =$ 2

→As it is given that, when a coin is flipped once , if head appears you double your money and if it is tail you walk away with your money.

→As losing cost me nothing ,that is still i am gettng $ 2, so i will go with the toss .

User Mokhtar Tlili
by
7.2k points

No related questions found

Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

9.4m questions

12.2m answers

Categories