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John tosses a coin three times in succession. He wins $2 for head on the first toss, $2 for head on
the second toss and $4 for head on the third toss. For each tail he losses $3. Find the standard
deviation of John's winning.
Solution
From previous work we know the probability distribution is:

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John tosses a coin three times in succession. He wins $2 for head o.pdf

  • 1. John tosses a coin three times in succession. He wins $2 for head on the first toss, $2 for head on the second toss and $4 for head on the third toss. For each tail he losses $3. Find the standard deviation of John's winning. Solution From previous work we know the probability distribution is: