Sevanna J.
asked • 09/22/20If you draw a card with a value of three or less from a standard deck of cards, I will pay you $47. If not, you pay me $12. (Aces are considered the highest card in the deck.)
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1 Expert Answer
Jon S. answered • 09/23/20
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event probability amount I earn
draw 2 or 3 2/13 $47
not 2 or 3 11/13 -$12
expected value = 2/13*$47 + 11/13*-$12 = $7.23 - $10.15 = -$2.92
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Sevanna J.
Step 2 of 2 : If you played this game 911 times how much would you expect to win or lose? Round your answer to two decimal places. Losses must be expressed as negative values.09/22/20