A person tosses a coin. If head comes up he gets Rs. 20 but loses Rs. 10 if tail comes up. What is his expected value?
Explanation:
If head comes up he gets Rs. 20 but loses Rs. 10 if tail comes up
P (head) = P (tail) = ½
Expected value = 1/2 × 20 - 1/2 × 10 = Rs. 5.
Hence, 5.
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