anonymous
  • anonymous
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
  • Stacey Warren - Expert brainly.com
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SOLVED
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chestercat
  • chestercat
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misty1212
  • misty1212
HI!!
misty1212
  • misty1212
just use the data, not the true probabilities right? guess that other info is there to confuse you
misty1212
  • misty1212
Larry wins $23 so i guess Bill loses $23 averaged over the 1000 games his expected value is \[-\frac{23}{1000}=-0.023\]

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

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