Question

Suppose you toss an unfair coin 8 times independently. The probability of getting heads is 0.3....

Suppose you toss an unfair coin 8 times independently. The probability of getting heads is 0.3. Denote the outcome to be 1 if you get heads and 0 if you get tails.

1.Write down the sample space.

2. What is the probability of the event that you get a head or a tail at least once?

3. If you get 8 same toss you will get x dollars, otherwise you will lose one dollar. On average, how large should x be to guarantee that you will not lose money in the long run?


(3) 8 of the samw tosess

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