SOLUTION: Kyd and North are playing a game. Kyd selects one card from a standard 52-card deck. If Kyd selects a face card (Jack, Queen, or King), North pays him $5. If Kyd selects any other

Algebra ->  Probability-and-statistics -> SOLUTION: Kyd and North are playing a game. Kyd selects one card from a standard 52-card deck. If Kyd selects a face card (Jack, Queen, or King), North pays him $5. If Kyd selects any other       Log On


   

Question 1051671: Kyd and North are playing a game. Kyd selects one card from a standard 52-card deck. If Kyd selects a face card (Jack, Queen, or King), North pays him $5. If Kyd selects any other type of card, he pays North $3.
a) What is Kyd's expected value for this game? Round your answer to the nearest cent. $

b) What is North's expected value for this game? Round your answer to the nearest cent. $

c) Who has the advantage in this game?
Answer by addingup(3677) About Me  (Show Source):
You can put this solution on YOUR website!
a) K(x) = (12/52)4 - (40/52)3 = (48-12)/52 = 36/52 = 9/13 = 69 cents
b) N(x) = (40/52)3 - (12/52)4 = (120-48)/52 = 138 cents
c) North has the advantage (he stands to win the most)