if the die shows 1, you get $1). If it shows an even number, you pay the amount on
(a) Find your expected net winnings in this game
(b) If you play this game 10 times, what is the chance you win something at least 3
times? How many wins would you expect?
(c) If you play this game until you win something and then stop, what is the chance
you play at least 3 times? How many plays would you expect?
Dear student, the solution is as: a) 1/2*1 + 1/2*3 + 1/2*5 = 4.5 b)... View the full answer