Ohhh ok I see what your doing. I was somewhat close when I originally summed (1/2)(win)+(1/2)(lose), but the infinite sum case never occurred to me. I guess I was kinda reading the problem a little wrong. That makes much more sense now. Thanks.
No i didn't...I probably did it wrong then.
I set the geometric ditribution (1/2)^x equal to 0 and solved and got 0 as the answer...I figured that this made sense since the only way to have an expectation of 0 was to not play the game. Because when you play the game, the player is guaranteed...
Nevermind...I spent well over an hour over-examining this, woke up this morning and it hit me...Forgot that I could just use the geometric distribution as a function to the find the expectation and then just set that equal to 0
ok so then if I take the geometric distribution g(x;theta)=theta(1-theta)^(x-1) and plug in theta=(1/2), I get the geometric distribution is = (1/2)^x for x=1,2,3,...
So now where would the equitable part come in? Since its obvious that there isn't a solution to (1/2)^x=0, then would I let...
This seems to be a fairly simple probability question but it's stumping me for some reason.
"You flip a fair coin until you get a head and win x dollars, where x is the number of flips it takes to get a head. (e.g. H = win $1; TH = win $2; TTH = win $3, and so on.) How much should you pay to...
Hi, I have to do a homework assignment for my intro to computer porgramming class and i have to write a program that creates insult sentences. My professor gave us some code to start with and we had to fill in the functions(professor gave us the names of these functions and the name of the...