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Mathematics, 21.04.2020 16:23 zacksoccer8279
You and a friend play a game where you each toss a balanced coin. If the upper faces on the coins are both tails, you win $2; if the faces are both heads, you win $6; if the coins do not match (one shows a head, the other a tail), you lose $3 (win (−$3)). Calculate the mean and variance of Y, your winnings on a single play of the game. Note that E(Y)> 0. how mucuh should you oay ti okay this game if your net winnings, the difference between the payoff and cost of playing, are to have mean 0?
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You and a friend play a game where you each toss a balanced coin. If the upper faces on the coins ar...
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