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In: Statistics and Probability

A player plays the following game with a casino: a coin is tossed until a tail...

A player plays the following game with a casino: a coin is tossed until a tail appears. The player wins 2^n dollars where n is the number of heads before a tail appears. If there are no heads, the player wins 2^0 = $1. Find the standard deviation of the amount the casino pays the player if the casino has only $17 (so, if the player wins more than $17, the casino still only pays $17). Do not round any intermediate results, but round the final answer to the nearest cent.

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orchestra answered 2 years ago
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