Question

2. You are playing a game where you chose a card at random from a standard deck of 52 cards. If the card chosen is a face card then you win $3. If the card is not a face card then you pay $1. There are 12 face cards in the deck. (a) How much money would you expect to win or lose each time you play the game? (b) If you wanted to make the answer to part a) come out to be 0, how would you change the amount you receive for winning?

Answer 1

The solution to this problem is given by

Total number of carde in a deck=h=5a No. of face Carels = Probability of drawing drawing a face a face card a PIF) - So, the expected winning of lossing is where q=1-6 Expected value 36-lq 10=3-337 Solution m =12 - m 12. m 54 =1-12= Yo 52 52 - 3x12 yo 59 36-40 52 59 0.07 692 ul be qa 40159 3 P il = -y 13 (bl of 9 ward to make arsull in part (e) to Zero, then enbected value should 2000, let winning amound. W - 19 -) bu =) WE 19/52 W = 3-333 So we will change the amount of equal to 1013 or 0-3333 minning