You have a biased coin that lands heads 10% of the time. You win $1000 every time the coin lands heads, and lose $50 every time the coin lands tails. You start with $0, it is possible to have negative balance. If you throw the coin 100 times, what is:

1. The maximum balance you could finish with?

2. The minimum balance you could finish with?

3. Your expected end balance?

1. 100,000

2. _________

3._________

Answer rating: 100% (QA)

Given that a biased coin that lands heads 10 of the time Th... View the full answer