Suppose you play a game with a biased coin The game consists

Last updated: 5/9/2023

Suppose you play a game with a biased coin The game consists of tossing the coin once For this biased coin the probability of landing heads is 2 3 and the probability of landing tails is 1 3 If you toss a head you pay i e lose 6 and if you toss a tail you win 11 If you play this game a great number of times then most likely you will come out ahead most likely you will come out even that is most likely your net payoff 0 most likely you will not come out ahead