You and a friend play the following game: you flip a fair coin. If it comes up heads, you pay $1. If it comes up tails,
Posted: Wed Jul 06, 2022 12:22 pm
You and a friend play the following game: you flip a fair coin.If it comes up heads, you pay $1. If it comes up tails, your friendrolls a die. If the result is an even number, your paid $2; if theresult is an odd number, then you pay your friend $3. What is yourexpected payoff–that is, the average amount you will win orlose?