SOLUTION: 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 th

Algebra ->  Probability-and-statistics -> SOLUTION: 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 th      Log On


   

Question 1161066: 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
Found 2 solutions by math_helper, solver91311:
Answer by math_helper(2461) About Me  (Show Source):
You can put this solution on YOUR website!
J,Q,K can show up, with probability 12/52
Ace can show up, with probability 4/52
Other cards (non-winners) have probability (52-12-4)/52 = 36/52

Expected return = 5(12/52) + 15(4/52) - 5(36/52) = -60/52 = -1.1538

Answer by solver91311(24713) About Me  (Show Source):
You can put this solution on YOUR website!


Yes.


John

My calculator said it, I believe it, that settles it