Bill and Larry toss two coins. If both coins come up heads, Bill pays Larry $4. Larry pays Bill $1 otherwise. Question: Bill and Larry play the game 100 times, and Larry comes out $23 ahead. Use only empirical information to estimate the expected value of this game for Bill and the expected value for Larry.

At vero eos et accusamus et iusto odio dignissimos ducimus qui blanditiis praesentium voluptatum deleniti atque corrupti quos dolores et quas molestias excepturi sint occaecati cupiditate non provident, similique sunt in culpa qui officia deserunt mollitia animi, id est laborum et dolorum fuga. Et harum quidem rerum facilis est et expedita distinctio. Nam libero tempore, cum soluta nobis est eligendi optio cumque nihil impedit quo minus id quod maxime placeat facere possimus, omnis voluptas assumenda est, omnis dolor repellendus. Itaque earum rerum hic tenetur a sapiente delectus, ut aut reiciendis voluptatibus maiores alias consequatur aut perferendis doloribus asperiores repellat.

Get our expert's

answer on brainly

SEE EXPERT ANSWER

Get your free account and access expert answers to this and thousands of other questions.

A community for students.

Bill and Larry toss two coins. If both coins come up heads, Bill pays Larry $4. Larry pays Bill $1 otherwise. Question: Bill and Larry play the game 100 times, and Larry comes out $23 ahead. Use only empirical information to estimate the expected value of this game for Bill and the expected value for Larry.

Mathematics
See more answers at brainly.com
At vero eos et accusamus et iusto odio dignissimos ducimus qui blanditiis praesentium voluptatum deleniti atque corrupti quos dolores et quas molestias excepturi sint occaecati cupiditate non provident, similique sunt in culpa qui officia deserunt mollitia animi, id est laborum et dolorum fuga. Et harum quidem rerum facilis est et expedita distinctio. Nam libero tempore, cum soluta nobis est eligendi optio cumque nihil impedit quo minus id quod maxime placeat facere possimus, omnis voluptas assumenda est, omnis dolor repellendus. Itaque earum rerum hic tenetur a sapiente delectus, ut aut reiciendis voluptatibus maiores alias consequatur aut perferendis doloribus asperiores repellat.

Get this expert

answer on brainly

SEE EXPERT ANSWER

Get your free account and access expert answers to this and thousands of other questions

HI!!
just use the data, not the true probabilities right? guess that other info is there to confuse you
Larry wins $23 so i guess Bill loses $23 averaged over the 1000 games his expected value is \[-\frac{23}{1000}=-0.023\]

Not the answer you are looking for?

Search for more explanations.

Ask your own question

Other answers:

and for larry it is the same, but positive \[0.023\]
about \(2.3\) cents per game
thank you so much!! @misty1212

Not the answer you are looking for?

Search for more explanations.

Ask your own question