Question

A game of chance involves a regular deck of 52 cards. The game costs $3 to play. If you draw an ace you win $20. If you draw a face card you win $5. If you draw a 10 you win $3 and if you draw any other card you lose. Calculate the expected winnings for the player, calculate the expected profits for the game owner. Is this a fair game? If not explain why the game owner would want the game slightly in his favour..

Answer #1

Consider this simple game. Pick a card from a regular deck with
52 cards. If you get a heart, you will win $2, otherwise, you will
lose $1.
a) Play this game for one time, what is the probability that you
can win.
b)Play this game twice, what is the probability that you can
win.
c) Play this game 100 times. Find the probability that you can
win.

We play a game with a deck of 52 regular playing cards, of which
26 are red and 26 are black. They’re randomly shuffled and placed
face down on a table. You have the option of “taking” or “skipping”
the top card. If you skip the top card, then that card is revealed
and we continue playing with the remaining deck. If you take the
top card, then the game ends; you win if the card you took was
revealed...

A card is drawn from a standard 52-card deck. Calculate the
expected value for the game. A player must pay $7 to play the game,
which must be subtracted from the winnings. If a diamond is drawn,
the player wins $17, otherwise they lose $7. Calculate the price
that would make the game fair.

Consider the following card game with a well-shuffled deck of
cards. If you draw a red card, you don't win. If you get a space
you win $1. If you draw a club, you win $3, if you draw the ace of
clubs you win $30.
a. Create a probability model for the amount you win at this
game.
b. Find the expected value for winning a single
game.
c. Find the standard deviation of the winnings.
d. Now suppose...

There is a game at the local carnival where you pay $1 for a
chance to draw one card from a standard deck. If you draw an ace,
you win $3.50 and if you draw a face card, you win $2. Otherwise
you don’t win anything. Find the expected value to you for this
game. Explain why it is or is not a good idea to play this
game.

a) Select a random card from a deck of 52 cards. If you shoot
As, you win the trip; options, look at the value of the card
(Pastor (K), Girl (Q) and Vale (J) reviews count as 10). If the
number is 7 or less in the menu of the card, you will lose
completely; What is your chance to win this game?
b) If you think that we give 5 TL to play the game and we will
make...

At a casino, there is a game where you draw a card from a
standard deck of 52 cards. If you get a black card, you win
nothing. If you get a heart, you win $5. If you get a diamond, you
win $10. There is an additional $20 bonus for the King of
diamonds.
a) Create a PDF for a variable X, which represents the amount of
money you can win by playing this game.
b) What is the...

Suppose we draw two cards out of a deck of 52 cards. If the two
cards make a pair of “face” cards (jacks, queens, or kings), you
collect $200; if they makes a pair of aces, you collect an amazing
$1,000; if they make a pair but not a pair of face cards or aces,
you collect $100; otherwise you lose $13. In terms of profits and
statistics, should you play the game? Why or why not?

he following question involves a standard deck of 52 playing
cards. In such a deck of cards there are four suits of 13 cards
each. The four suits are: hearts, diamonds, clubs, and spades. The
26 cards included in hearts and diamonds are red. The 26 cards
included in clubs and spades are black. The 13 cards in each suit
are: 2, 3, 4, 5, 6, 7, 8, 9, 10, Jack, Queen, King, and Ace. This
means there are four...

The following question involves a standard deck of 52 playing
cards. In such a deck of cards there are four suits of 13 cards
each. The four suits are: hearts, diamonds, clubs, and spades. The
26 cards included in hearts and diamonds are red. The 26 cards
included in clubs and spades are black. The 13 cards in each suit
are: 2, 3, 4, 5, 6, 7, 8, 9, 10, Jack, Queen, King, and Ace. This
means there are four...

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