In each toss, the expected value is the probability of winning multiplied by the amount won, minus the probability of losing multiplied by the amount lost. The probability of winning is 1/2, or 0.5, and the probability of losing is also 1/2, or 0.5. The amount won is $2, and the amount lost is $0.50. So the expected value of each toss is 0.5 * $2 - 0.5 * $0.50 = $0.75.
Therefore, after 21 tosses, you would expect to gain an amount equal to 21 * $0.75 = ${data-answer}lt;<21*0.75=15.75>>15.75.
The likelihood or chance that a specific event will occur is represented by a probability. Both proportions between 0 and 1 and percentages between 0% and 100% can be used to describe probabilities.
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