This action might not be possible to undo. Are you sure you want to continue?
Each play of the game involves repeatedly flipping an unbiased coin until the difference between the number of heads tossed and the number of tails is 3. 2. If you decide to play the game, you are required to pay $1 for each flip of t he coin. You are not allowed to quit during a play of the game. 3. You receive $8 at the end of each play of the game. For example: HHH THTTT THHTHTHTTTT â ¦ You win $5 You win $3 You lose $3
Would you play this game? Use simulation to answer the question. Describe your simulation model and give a quantitative basis of your decision.