Question 441764: a person selects a card from an ordinary deck of cards. if it is a black card, she wins $2. if it is a red card between 3 and 7 inclusive, she wins $10. If it is a red face card, she wins $25, and if it is a black jack, she wins an additional $100. If it is any other card, she wins nothing. Find the expected value of the game when no money is put up to start the game.
Answer by stanbon(75887)   (Show Source):
You can put this solution on YOUR website! a person selects a card from an ordinary deck of cards. if it is a black card, she wins $2. if it is a red card between 3 and 7 inclusive, she wins $10. If it is a red face card, she wins $25, and if it is a black jack, she wins an additional $100. If it is any other card, she wins nothing. Find the expected value of the game when no money is put up to start the game.
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P(black) = 26/522
P(red between 3 and 7) = 10/52
P(red face) = 6/52
P(black jack) = 2/52
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E(x) = (26*2+10*10+6*25+2*100)/52 = $9.65
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Cheers,
Stan H.
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