Probability

Discussion in 'Probability' started by cheema, Oct 16, 2011.

  1. cheema

    cheema Guest

    Hi everyone,

    Assume that Jack goes to a casino. He plays several games (let's say
    5).
    Every time he wins a game he gets 100$ and every time he looses a game
    he
    looses 50$. Below are the probabilities of each time he wins a game
    (the
    probability reduces every time).

    1
    1/2
    1/4
    1/8
    1/16

    How can we compute the expected amount of money he has won or lost
    after he
    had played the above five games? Thanks

    Best Regards
     
    cheema, Oct 16, 2011
    #1
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