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Question 3: You are given a fair coin. You flip this coin twice; the two flips...

Question 3: You are given a fair coin. You flip this coin twice; the two flips are independent. For each heads, you win 3 dollars, whereas for each tails, you lose 2 dollars. Consider the random variable

X = the amount of money that you win.

– Use the definition of expected value to determine E(X).

– Use the linearity of expectation to determineE(X).

You flip this coin 99 times; these flips are mutually independent. For each heads, you win 3 dollars, whereas for each tails, you lose 2 dollars. Consider the random variable

Y = the amount of money that you win.

Determine the expected value E(Y) of Y .

Math   Statistics-And-Probability   
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