I'm stuck on the following question:
Suppose you toss three coins: two fair coins and a positively biased coin (more likely to show Heads than Tails). The variance of the total number of Heads in the three tosses is 0.55. What is the probability that the biased coin shows head?
To start off, I made the following expression: Var(2F+B) = 0.55
I then seperated and simplified to 2Var(F) + Var(B) = 0.55
I used the equation of Var for the binomial distribution (which is np(1-p)) to get
2(2*0.5)(1-0.5) + Var(B) = 0.55
so Var(B) = -0.45. I then used the same equation of Var again to get
p(1-p) = -0.45 but after expanding and solving the quadratic equation, I get 2 values for the probabilities that are less than 0 and greater than 1.
Can anyone tell me where I went wrong.
The main problem here is that you assume Var to be liniear, which it is not.
$Var(2F+B) = 2^2Var(F) + Var(B)$
Also note that the Variance can never be negative. Otherwise you are on a good path.