Problem 2. Consider the following game that you play with your friend. There is a referee who will áip a coin. You and your friend will guess the outcome (Head or Tail) of this random experiment. If your guess is the same as your friend, you lose $3 if the guess is Head and you lose $1 if your guess is Tail. If your guess is di§erent from your friend, you win $2. Suppose that both you and your friend think that the probability of observing Head is 1/2. What is the expectation of the money you will win from this game? (Hint: the R function to generate a Bernoulli random variable is rbinom(1,1,p)).

step-by-step explanation:

soo this can be solve by using the formula:

f = p( 1 + i)^ n

where f is the future profit

p is the initial profit

i is the percent increase

n is the number of years

a . f = 30000 ( 1.05)^n

b. f = 30000 ( 1.05)^15

f = $62,368

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