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22 February, 01:41

A game consists of flipping two coins. If both coins turn up heads, you win $1.00. What is a "fair" price to play? (What is the expected value of one play?)

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  1. 22 February, 01:57
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    It would be $0.50. Each Heads earns you $0.50 and if you pay $0.50 you have a chance of doubling your money.
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