document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=799151>Question 799151</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Suppose you play a game in which you make a bet and then draw a card from a deck that includes the standard 52 as well as 2 jokers. If you draw a joker, you keep your bet and win $5. If you draw. Face card, you keep your bet and win $2. And if you draw any other card, you lose your bet. What is your expected gain or loss on this game if your bet is $1? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #482518 by </B><A HREF=/tutors/aboutme.mpl?userid=stanbon><B>stanbon(75887)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=stanbon><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/images/nopicture.jpg><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=482518\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Suppose you play a game in which you make a bet and then draw a card from a deck that includes the standard 52 as well as 2 jokers. If you draw a joker, you keep your bet and win $5. If you draw. Face card, you keep your bet and win $2. And if you draw any other card, you lose your bet. What is your expected gain or loss on this game if your bet is $1?<BR>\n" );
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document.write( "Random gains::: 5.........2.........-1<BR>\n" );
document.write( "Probabilities:: 2/54.... 12/54.....40/54<BR>\n" );
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document.write( "E(x) = [2*5 + 12*2 - 40]/54 = -6/54 = -1/9 = -0.11 cents<BR>\n" );
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document.write( "Cheers,<BR>\n" );
document.write( "Stan H.<BR>\n" );
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