Suppose an acquaintance has a trick coin that comes up a head 75% of the time. He

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Suppose an acquaintance has a trick coin that comes up a head 75% of the time. He wants to play a game where he tosses the coin 3 times, and for each time the coin comes up a head, he will pay you $2. He wants to charge you a fee to play the game. If you are willing to play the game only if the game is fair, how much money would you be willing to pay (overall) to play the game?
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Introduction to Probability

ISBN: 978-0716771098

1st edition

Authors: Mark Daniel Ward, Ellen Gundlach

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