SOLUTION: you draw a card from an ordinary deck. if you draw an ace,you win $5.you win $3 for a face card and 10 for a seven of spades.if you pick anything else, you lose $2. on average,how

Question 745598: you draw a card from an ordinary deck. if you draw an ace,you win $5.you win $3 for a face card and 10 for a seven of spades.if you pick anything else, you lose $2. on average,how much money can the operator expect ton make per custome?
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
you draw a card from an ordinary deck. if you draw an ace,you win $5.you win $3 for a face card and 10 for a seven of spades.if you pick anything else, you lose $2. on average,how much money can the operator expect to make per custome?
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Operator "win" values:.........-5....-3.......-10.....+2
Corresponding probabilities....4/52..12/52....1/52...35/52
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Expected("win") = [-20 -36 -10 + 70]/52 = 4/52 = 1/13 of a dollar
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Expected "win" for the operator = 7.7 cents each time the game is played.
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Cheers,
Stan H.
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