Posted by Megs on Thursday, June 16, 2011 at 3:33pm.
You pick a card from a card deck of 52 cards. If you choose a diamond or a heart, you win $50. If you choose a club or a spade, you lose $60. Find the expected value of this game.

math  Reiny, Thursday, June 16, 2011 at 3:40pm
Prob(diamond or heart) = prob(club or spade) = 26/52 = 1/2
expected value = (1/2)$50 + (1/2)($60) =  $5.00
Weird ! , why would anybody play a game like that?

math  Megs, Thursday, June 16, 2011 at 3:42pm
hahah thank you! good question because it sure wouldn't be me playing!
Answer This Question
Related Questions
 Math  A state lottery requires you to choose 4 cards from an ordinary deck: I ...
 math  A card is drawn from an ordinary deck of 52 cards, and the result is ...
 math  A card is selected from a deck of 52 playing cards. Find the probability ...
 Math  You pick two cards from a deck of 52 cards. Find the probability that the...
 Algebra 2  Can someone please check my answers? A card is randomly drawn from a...
 Stats  Directions: Suppose you have a standard deck 52 cards (4 suits: hearts, ...
 Stats  Suppose you have a standard deck 52 cards (4 suits: hearts, diamonds, ...
 Math  Two cards. Refers to choosing two cards. If you do not put the first card...
 math  You draw one card at random from a shuffled deck of 52 playing cards. The...
 math stats  you draw from a deck. if you get a red card you win nothing. if you...
More Related Questions