What is the expected value of a game, if, with each coin flip, you would get $10

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What is the expected value of a game, if, with each coin flip, you would get $10 for "HEADS," but would lose $5 for "TAILS?"

hint: One only needs to ascertain how many standard deviations away is the outcome from the mean. Once that number is obtained, probability can easily be calculated using the cumulative distribution function of standard normal distribution.

Posted Date: May 17, 2024 12:01 PM

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What is the expected value of a game, if, with each coin flip, you would get $10

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