Answer:
Total expected amount = $0.04375
Step-by-step explanation:
We need to calculate probability of getting heads on every combination of coin tosses
HHH = 1/8 = 3 heads
HHT = 1/8 = 2 heads
HTH = 1/8 = 2 heads
HTT = 1/8 = 1 head
THH = 1/8 = 2 heads
THT = 1/8 = 1 head
TTH = 1/8 = 1 head
TTT = 1/8 = 0 head
So the probability of 3 heads is 1/8 and the amount is (1/8)* 0.14 = $0.0175
Probability of 2 heads is 3/8 and the amount is (3/8) * 0.06 = $0.0225
Probability of 1 head is 3/8 and amount is (3/8) * 0.01 = $0.00375
Total expected amount = 0.00375 + 0.0225 + 0.0175
Total expected amount = $0.04375
