Posted by Lori on Sunday, September 26, 2010 at 11:00pm.
If I deal you one card from a standard deck of 52 and it is a face card, I will give you a $5.00 bill. There are 12 face cards. There is one catch: You have to pay me something to play this game. How much would that be if the game is to be fair?

Statistics  PsyDAG, Monday, September 27, 2010 at 11:57am
Probability of winning = 12/52 = 3/13
Probability of losing = 40/52 = 10/13
Probability of losing = 3 1/3 times the probability of winning.
What would you consider fair?
X * 3 1/3 = 5

Statistics  confused, Friday, April 15, 2011 at 12:35pm
P(10 on 1st card and 3 on 2nd)
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