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2 years ago

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Suppose that you and a friend are playing cards and decide to make a bet. If you draw three face cards, where a face card is a J

ack, a Queen, or a King, in succession from a standard deck of 52 cards without replacement, you win $40. Otherwise, you pay your friend $10. What is the expected value of your bet? Round your answer to the nearest cent, if necessary.

1 answer:

Nataly_w [17]2 years ago

3 0

Answer:

Step-by-step explanation:

Expected value of the bet =

<h3>P(you make the correct draw) * 40 + P(you do not make the correct draw) * (-10) = </h3>

(4/52)(4/51)(4/50) * 40 + (1 - (4/52)(4/51)(4/50)) * (-10) =

(64/132600) * 40 + (1 - 64/132600) *(-10) =

64/3315 + (132536/132600) * (-10) =

64/3315 - (132536/13260) =

64/3315 - 33134/3315 =

-33070/3315 =

-9.97586726998 =

-$9.98, rounded to the nearest cent

(i.e., the expected value of the bet is a loss of $9.98)

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