Consider the experiment of tossing a fair coin three times and observing the number of heads that result (X = number of heads). If you were asked to play a game in which you tossed a fair coin three times and were given $2 for every head you threw,how much would you expect to win on average?
A)$3
B)$2
C)$6
D)$9

Question

Quizplus · Accepted Answer

The expected value of X (number of heads) when tossing a fair coin three times is 1.5. Since you earn $2 for each head, the expected winnings are 1.5 * $2 = $3.

Consider the Experiment of Tossing a Fair Coin Three Times