Question: I need help please. Can you show me how to solve these? 1.Question:Bill and Larry toss two coins. If both coins come up heads, Bill

I need help please. Can you show me how to solve these?

1.Question:Bill and Larry toss two coins. If both coins come up heads, Bill pays Larry $6. Larry pays Bill $1 otherwise. What is the expected value of this game for Bill? What is the expected value of this game for Larry?

2. Question:You play a gambling game with your friend in which you win 30% of the time and lose 70% of the time. When you lose, you lose $1. What profit should you earn when you win in order for the game to be fair? (Round your answer to the nearest cent.)

Thanks so much!

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