BB,,,, his real earn was 15 dollars cash but his expected earn which is really what he did earn, was 5 dollars.
because if they kept flipping more times he would earn his average of 5 dollars after some amount of time. or at least it would approach that figure closely.
in way look at your earning from a job. you get a paycheck for 1000 dollars. but you have to pay tax later on it so you really earned say 700 dollars. so your expected earn on that job is 700.
you might say i made 1000. but would you also say that if they took out the taxes right away. then you would say you earned 700.
the other reasoning here as most have put it would be you earned 1000 dollars, but at the end of the year you wouldnt have 52,000 you would have 70% of it. which is what you really earned.
because if they kept flipping more times he would earn his average of 5 dollars after some amount of time. or at least it would approach that figure closely.
in way look at your earning from a job. you get a paycheck for 1000 dollars. but you have to pay tax later on it so you really earned say 700 dollars. so your expected earn on that job is 700.
you might say i made 1000. but would you also say that if they took out the taxes right away. then you would say you earned 700.
the other reasoning here as most have put it would be you earned 1000 dollars, but at the end of the year you wouldnt have 52,000 you would have 70% of it. which is what you really earned.