SOLUTION: Mark draws one card from a standard deck of 52. He receives $ 0.50 for a spade, $ 0.70 for a jack and $ 0.85 for the jack of spades. How much should he pay for one draw?

Algebra ->  sets and operations -> SOLUTION: Mark draws one card from a standard deck of 52. He receives $ 0.50 for a spade, $ 0.70 for a jack and $ 0.85 for the jack of spades. How much should he pay for one draw?       Log On


   

Question 1021038: Mark draws one card from a standard deck of 52. He receives $ 0.50 for a spade, $ 0.70 for a jack and $ 0.85 for the jack of spades. How much should he pay for one draw?
Answer by robertb(5830) About Me  (Show Source):
You can put this solution on YOUR website!
The probability of drawing a jack of spades is 1/52.
The probability of drawing a spade that is not a jack is 12/52, or 3/13.
The probability of drawing jack that is not a spade is 3/52.
His expectation is thus
0.50%2A%283%2F13%29+%2B+0.70%2A%283%2F52%29+%2B+0.85%2A%281%2F52%29+=+0.17.
Therefore he should pay $0.17 for one draw.