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Paying per flip
A fair coin is flipped repeatedly until the first head appears. Each flip costs . What is the expected total cost?
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Hint
First find the expected number of flips until the first head.
Solution
- The number of flips until the first head is geometric with success probability .
- Its expected value is flips.
- Each flip costs , so by linearity the expected cost is .
- The expected total cost is .
Answer: