a fair coin is tossed 3 times. A person receives rupees X^2 if he if he gets X number of heads in all find is expected gain?
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Answer:
2.25 rupees
Step-by-step explanation:
when a fair coin is tossed , there are two possibilities
Head ( success) with probability p = 0.5
Tail (failure) with probability (1-p) = 0.5
since there are 3 trials, then
the number of heads is a random variable with a Binomial (n=3,p=0.5) distribution
The mean (expected value) of a binomial distribution is;
mean= n*p
therefore the expected number of heads is
n*p= 3*0.5=1.5
If the person receives x^2 rupees for x heads, then the expected gain is
1.5^2=2.25
2.25 rupees
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