You have a coupon for 10% off the sale price of a surfboard. Which is the better buy? Explain your reasoning.
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Answer:
Step-by-step explanation:
Given that you and a friend play a game where you each toss a balanced coin.
If the upper faces on the coins are both tails, you win $1;
if the faces are both heads, you win $2;
if the coins do not match (one shows a head, the other a tail), you lose $1 (win (−$1)).
Let Y be the amount won
Then Y can take values as 1,2 and -1
The above is the probability distribution for Y.