question archive You have a biased coin that lands heads 10% of the time
You have a biased coin that lands heads 10% of the time
Subject:MathPrice: Bought3
You have a biased coin that lands heads 10% of the time. You win $1000 every time the coin lands heads, and lose $50 every time the coin lands tails. You start with $0, it is possible to have negative balance. If you throw the coin 100 times, what is:
1. The maximum balance you could finish with?
2. The minimum balance you could finish with?
3. Your expected end balance?
1. 100,000
2. _________
3._________
