SOLUTION: 1.A person selects a card from a standard deck. If the card is red, she must pay $1. If it is a black card between 2 and 10, she wins 50 cents. If is a black picture card, she wins

Algebra ->  Probability-and-statistics -> SOLUTION: 1.A person selects a card from a standard deck. If the card is red, she must pay $1. If it is a black card between 2 and 10, she wins 50 cents. If is a black picture card, she wins      Log On


   

Question 615839: 1.A person selects a card from a standard deck. If the card is red, she must pay $1. If it is a black card between 2 and 10, she wins 50 cents. If is a black picture card, she wins $2. If it is a black ace she wins $5. What is the expected value of her gain or loss from the game?
Answer by solver91311(24713) About Me  (Show Source):
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is the probability of a red card. Since half of the cards are red, . Red card outcome:

is the probability of a black number card: There are 18 black cards numbered 2 through 9 out of 52 cards. . Black number outcome:

is the probability of a black face card: There are 6 black face cards out of 52 cards. . Black face outcome:

is the probability of a black ace: There are 2 black aces out of 52 cards. . Black ace outcome

Multiply each probability by the associated outcome value, then add up the expected values of each outcome. Add 'em up.

John

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