Question 1023703: A card game goes like this: You draw a card from a 52-card deck. If it is a face card (jack, queen or king), you win $5; otherwise, you lose $2. What is your expected value for this game? (Round your answer to one decimal place.)
Answer by stanbon(75887)   (Show Source):
You can put this solution on YOUR website! A card game goes like this: You draw a card from a 52-card deck. If it is a face card (jack, queen or king), you win $5; otherwise, you lose $2. What is your expected value for this game? (Round your answer to one decimal place.)
-------
Random "winnings":: 5.......-2
Probabiities:::::: 12/52...40/52
----------------------------------
E(x) = [12*5 -40*2]/52 = -20/52 = -$0.40
----------------
Cheers,
Stan H.
--------------
|
|
|
