Question

If you were asked to play a game in which you tossed a fair coin three times and were given $2 for every head you threw, how much would you expect to win on average?

Answer 1

You would expect to win $3 on average over many games. This is a probability problem, and can be solved using the following math: (1/2)*2 + (1/2)*2 + (1/2)*2 = 3 There is always a 50/50 chance you will get two dollars, so flipping the coin once averages $1 wins, while three times is three times that.