Expected value and variance of amount


Alice and Bob repeatedly flip the coin that lands heads with probability p. If the coin lands heads, Alice provides Bob $1. If the coin lands tails, Bob gives Alice $2. After n rounds, find out the expected value and variance of amount that Alice has won or lost. Assume p = 0.64 in the above. Approximately how many times would the coin have to be flipped in order for Alice to be 95% certain that she wouldn't lose money?

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Basic Statistics: Expected value and variance of amount
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