Question: This is Chance strategy and choice problem 19.6 I'LE (St. Petershurg Paradox} This paradox is related to the game Flipping. for Heads. Flip a coin

This is Chance strategy and choice problem 19.6

I'LE (St. Petershurg Paradox} This paradox is related to the game Flipping. for Heads. Flip a coin until \"Heads" appears. and keep track of H = number of flips until "'Hetttisu The payoff for the game is 2" dollars. What is the expected value for this game? How much would you be willing to pay up front to play? Can you formulate

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