Suppose you are playing the following very favorable game of “heads and tails”. A fair coin is flipped until it comes up tails. If it comes up tails on the qth flip, you receive $2 q . (a) What is the expected number of flips before tails? (b) What i

Suppose you are playing the following very favorable game of “heads and tails”.

A fair coin is flipped until it comes up tails. If it comes up tails on the qth flip, you receive

$2

q

.

(a) What is the expected number of flips before tails?

(b) What is your expected payout?

(c) Write a MATLAB program that simulates 10,000 trials of this game, and record the

payout in vector P (so P will have 10,000 entries). Turn in your code, and a (clearly

labeled) stem plot of P.

(d) Survey question (no right or wrong answer): How much would you pay for the privilege

of playing this game one time? Ten times? One hundred times? Think about it, then

express your feelings.

[Steven Lord]

This sounds like a homework assignment. If it is, show us the code you've written to try to solve the problem and ask a specific question about where you're having difficulty and we may be able to provide some guidance.

If you aren't sure where to start because you're not familiar with how to write MATLAB code, I suggest you start with the MATLAB Onramp tutorial (https://www.mathworks.com/support/learn-with-matlab-tutorials.html) to quickly learn the essentials of MATLAB.

If you aren't sure where to start because you're not familiar with the mathematics you'll need to solve the problem, I recommend asking your professor and/or teaching assistant for help.