Investor Presentaiton

Step 2: Label the probability of outcomes by stage Flip 1 p 1/2 Flip 2 W₁ =2¹ Flip 3 Flip n Start H p 1/2 W2=22 1-p 1/2 1 p 1/2 р 1/2 1-p 1/2 W3=23 H P=1/2 W₁ =2" Let w = "winnings" and w₁ = "winnings if game ends on flip n' 1 p 1/2

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