If you draw a card with a value of three or less from a standard deck of cards, I will pay you $41. If not, you pay me $11. (Aces are considered the highest card in the deck.)

Question

if you played this game 877 times how much would you win or lose?

Answer 1

52 cards in a deck

4 3's, 4 2's, 8 total out of 52.

Draw Payout P(payout)

3 $41 8/52 = 2/13

not 3 -$11 11/13

E(payout for 1 game = 41*2/13 - 11*11/13 = -3$ (lose 3$ each game)

If played 877 games, would expect to lose 877 * 3 = $2631