Mathematics, 12.03.2020 05:01 sweetbri7p5v6tn

Albert and Bob are playing a coin flipping game. If the coin comes up heads, Albert wins $1 from Bob; if it comes up tails, Bob wins $1 from Albert. The coin is biased so that the probability of heads is 0.6. Albert and Bob will play the game 4 times. What is the value of a contract that pays zero if Albert loses overall and pays his winnings if he wins overall?

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Albert and Bob are playing a coin flipping game. If the coin comes up heads, Albert wins $1 from Bob...