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Expected Return From Coin Flips

HardStatistics & Probability00:00
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Your question is Expected Return From Coin Flips. Take a moment with it on the right.

Talk me through your thinking if you like. When you're confident, submit your answer and I'll grade it like a real screen (7/10 or better passes).

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Problem

Tell me about how you would compute the expected return from coin-flipping games and similar probability setups.

Using the supplied game definitions, calculate each game's expected gross payout and expected net return after the entry fee. Explain the probability model, compare the games, and discuss why expected value alone may not determine which game to choose.