Question

A card is drawn from a standard​ 52-card deck. If the card is a​ king, you...

A card is drawn from a standard​ 52-card deck. If the card is a​ king, you win ​$10​; ​otherwise, you lose ​$4. What is the expected value of the​ game?

Math   Statistics-And-Probability   
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Answer #1

In a Standard 52 card deck, there are 4 kings.

Thus, Probability of drawing a card which is a king = 4/52=1/13= probability of winning

Probability of drawing a card which is not a king = (52-4)/52= 48/52=12/13= probability of losing

Since

if the card drawn is a king one wins $10

If any other card is drawn , one loses = $4

Expected value of the game

  

= -2.9230

ANS: The expected value of the game is -2.9230.

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