SOLUTION: A game is played where if you are dealt a face card, from a standard deck of 52 cards you win $10. If you are dealt any other card you must pay $4. What is the expected lost/gain f

Algebra ->  Probability-and-statistics -> SOLUTION: A game is played where if you are dealt a face card, from a standard deck of 52 cards you win $10. If you are dealt any other card you must pay $4. What is the expected lost/gain f      Log On


   

Question 1155255: A game is played where if you are dealt a face card, from a standard deck of 52 cards you win $10. If you are dealt any other card you must pay $4. What is the expected lost/gain from playing this game?
Answer by ikleyn(52775) About Me  (Show Source):
You can put this solution on YOUR website!
.

Expected lost/gain is  10%2A%2812%2F52%29+-+4%2A%28%2852-12%29%2F52%29 = -0.77 dollars.


Hence, if you play this game many times, you should expect losing $0.77 every play, in average.    ANSWER