A coin is tossed 7 times. You bet $1 that heads will come up on all seven tosses. If this happens, you win $100. Otherwise, you lose your $1 bet. Find: P(you win) = P(you lose) = Expected winnings =
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Step 1
- The probability of getting heads in one toss of a fair coin is 1/2. - Since the coin is tossed 7 times and each toss is independent, the probability of getting heads on all seven tosses is (1/2) multiplied by itself 7 times, which is (1/2)^7. Show more…
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