Thanks very much!
I just came across another question I can't do, and hope someone can help:
At a fair a roll a penny stall can be played with 1p or 2p coins. If the coin lands inside a square (without touching the edges) the player receives the coin plus 2 other coins of the same value, otherwise the coin is lost. The probability of winning the prize with 1p coin is 19/40 and the probability for a 2p coin is 11/40.
a) Find the expected winnings for each coin.
I just don't know what to do, as they have given the probabilities of winning. The answers are 1p 17/40, 2p -7/20. How do you get this.
Also, in the following part it asks 'would you play this game and why?' and in the back of the book it says 'Yes, with 1p since the expected value is positive'. I was just wondering, what does a positive expected value mean, as I can't seem to understand this explanation.
Thanks!