Amit throws a biased coin on which the head appears in 65% of the situations. In a game involving this coin, if Amit is paid Rs.15 per head and he has to pay Rs.20 for a tail, then in the long run, per game Amit makes an average
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Answer:
Rs.2.75 gain
Step-by-step explanation:
Probability of getting a head is 0.65 and tail is 0.35 i.e. P(H) = 0.65, P(T) = 0.35
Expected value = 0.65 x 15 – 0.35 x 20 = 2.75
Hence Amit gains Rs.2.75 per game on an average
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