1 .
Consider a coin that comes up heads with probability 1/7 and comes up tails with probability 6/7.
You flip this coin once. If it comes up heads, you win \$5. If it comes up tails, you win \$2.
What is the expected value $\mathbb{E}(X)$ of $X$?
What is the expected value $\mathbb{E}(X)$ of $X$?
(a)
7/17
(b)
17/7
(c)
7/2
(d)
32/7