Question 1161071: Is it B? I want to check my answer.
A person creates a game in which a person pays $5.00 to play. Then, they draw a single card from a standard shuffled deck of cards.
If they draw a face card, they win $10.00 (i.e. they get their $5.00 back and get an extra $5.00).
If they draw an ace, they win $20.00 (i.e. they get their $5.00 back and get an extra $15.00).
With any other draw they lose their money.
What is the expected money value playing this game?
A. -$5.00
B. -$1.15
C. $1.31
D. $0.38
The deck of cards for the question and the question itself are provided in the link here: https://i.imgur.com/aQBe5Yz.png
Answer by Theo(13342)   (Show Source):
You can put this solution on YOUR website! a face card is a jack, queen, or king.
there are 4 jacks, 4 que4ens, 4 kings in a deck for a total of 12.
p(face card) = 12/52.
there are a total of 4 aces in a deck.
p(ace) = 4/52.
expected value = p(face card) * 10 + p(ace) 8 20 - 5 = -1.153846154.
round to 2 decimal digits = -1.15
that's selection B which makes you correct.
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