SOLUTION: mike and dave play the following game. mike picks a card from a deck of cards if he selects an ace, dave gives him $5. if not, he gives dave $2?
Determine mikes expectation
d
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-> SOLUTION: mike and dave play the following game. mike picks a card from a deck of cards if he selects an ace, dave gives him $5. if not, he gives dave $2?
Determine mikes expectation
d
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Question 1073972: mike and dave play the following game. mike picks a card from a deck of cards if he selects an ace, dave gives him $5. if not, he gives dave $2?
Determine mikes expectation
determine daves expectation Answer by jorel1380(3719) (Show Source):
You can put this solution on YOUR website! The probability of mike picking an ace out of a standard 52-card deck is 1/13. The probability he WON'T is 12/13. So his expectation is:
5x1/13 - 2x12/13, or -$1.46.
Dave's expectation is -5/13+24/13, or +$1.46. ☺☺☺☺
