Question

Kyd and North are playing a game. Kyd selects one card from a standard 52-card deck. If Kyd selects a face card (Jack, Queen, or King), North pays him $5. If Kyd selects any other type of card, he pays North $2. a) What is Kyd's expected value for this game? Round your answer to the nearest cent. $ b) What is North's expected value for this game? Round your answer to the nearest cent. $ c) Who has the advantage in this game? Select an answer v

2.

Answer 1

Answer:

Given that:

Kyd and North are playing a game. Kyd selects one card from a standard 52-card deck. If Kyd selects a face card (Jack, Queen, or King), North pays him $5. If Kyd selects any other type of card, he pays North $2.

A standard deck cards = 52

A face card [Jack,Queen,King]

North pays him $5

kyd selected he payed north =$2

a) What is Kyd's expected value for this game?

kyd's expected value for this game

四年 E = (u)r

k(n) = 1.1538 – 1.5384

k(n) = -$0.3846

b)  What is North's expected value for this game?

North's expected value for this game

9 Nin) = 到底

N(n) = 1.5384 – 1.1538

N(n) = $0.3846

c) Who has the advantage in this game?

So here the advantage in this game is "North"

As per HomeworkLib guidelines we should solve only the first question. So I have done it.
For the other question please post differently mentioning your requirement

Answer 2

ANSWER :

1.

a.

Kyd’s expected value

= P(gain) * 5 - P(loss) * 2

= 12/52 * 5 - 40/52 * 2

= - 20 / 52

= - 0.3846 ($) (ANSWER)

b.

North’s expected value

= P(gain) * 5 - P(loss) * 2

= 40/52 * 2 - 12/52 * 5

=  20 / 52

=  0.3846 ($) (ANSWER).

c.

North has advantage in this game as his expected value is positive (gain) compared to that being loss for Kyd.

2.

Total marbles = 1 + 6 = 30 = 37

My expected value

= P(gold) * 4 + P(silver) * 2 - P(black) * 1

= 1/37 * 4 + 6/37 * 2 - 30/37 *1

= - 14/37 ($) (ANSWER)