Wednesday, 7 August 2013

Expected value of 4 coin flips if you get $1 for each head. Dealer can make you reflip any coin

Expected value of 4 coin flips if you get $1 for each head. Dealer can
make you reflip any coin

You toss 4 fair coins. Dealer pays out $1 for each heads. The catch is
that he may make you re-flip any one coin. What is the expected value of
this game? Please show work.

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