1. (10 points) We're going to play a game. The player is allowed to flip a fair coin repeatedry and decide after each fl

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1 10 Points We Re Going To Play A Game The Player Is Allowed To Flip A Fair Coin Repeatedry And Decide After Each Fl 1 (22.19 KiB) Viewed 37 times

1. (10 points) We're going to play a game. The player is allowed to flip a fair coin repeatedry and decide after each flip whether to stop. When the player stops, if they have so far flipped k heads in n flips, they are paid k/n dollars. (If the player flips H on the first try and stops, their payout is 1/1 = $1 or if the player flips T,H,T and then stops, their payout is 1/3 = $0.33). What is the the best strategy and the Approximate Payout? Hint: "The idea that the payout will "eventually be 50% or close to it" =