Math  /  Data & Statistics

QuestionA certain game involves tossing 3 fair coins, and it pays 99 \notin for 3 heads, 44 \notin for 2 heads, fand 22 \notin for 1 head. Is 44 \notin a fair price to pay to play this game? That is, does the 4ϕ4 \phi cost to play make the game fair?
The 4c4 c cost to play \square is not a fair price to pay because the expected winnings are \square 4. (Type an integer or a fraction. Simplify your answer.)

Studdy Solution
The expected winnings are 278\frac{27}{8} cents, which is 3.3753.375 cents.
Since this is less than the 44 cent cost to play, the 44 cent cost is *not* a fair price.

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