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A fair coin is tossed 3 times, and a player wins $26 if 3 tails occur, wins $13 if 2 tails occur, and loses $26 if no tails occur. If 1 tail occurs, no one wins. what is the expected value?
i dont really understand what does the "if 1 tail occurs , no one wins. how do you set up that?
i only set up up to ( $26*3/8) + ($13* 2/8) -(26* 4/8) how do i set up the if 1 tail occurs?
i dont really understand what does the "if 1 tail occurs , no one wins. how do you set up that?
i only set up up to ( $26*3/8) + ($13* 2/8) -(26* 4/8) how do i set up the if 1 tail occurs?