71. A game involves selecting a card from a regular 52-card deck and tossing a coin....
71. A game involves selecting a card from a regular 52-card deck and tossing a coin. The coin is a fair coin and is equally likely to land on heads or tails. • If the card is a face card, and the coin lands on Heads, you win $6 • If the card is a face card, and the coin lands on Tails, you win $2 • If the card is not a face card, you lose $2, no matter what the coin shows. a. Find the expected value for this game (expected net gain or loss). b. Explain what your calculations indicate about your long-term average profits and losses on this game. c. Should you play this game to win money?
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71. A game involves selecting a card from a regular 52-card deck
and tossing a coin....
Problem 2: Tails and (Heads or Tails?) Alice and Bob play a coin-tossing game. A fair...
Problem 2: Tails and (Heads or Tails?) Alice and Bob play a coin-tossing game. A fair coin (that is a coin with equal probability of 1. The coin lands 'tails-tails' (that is, a tails is immediately followed by a tails) for the first 2. The coin lands 'tails-heads (that is, a tails is immediately followed by a heads) for the landing heads and tails) is tossed repeatedly until one of the following happens time. In this case Alice wins. first...
A card is drawn from a standard 52-card deck. If the card is a king, you...
A card is drawn from a standard 52-card deck. If the card is a king, you win $10; otherwise, you lose $3. What is the expected value of the game A card is drawn from a standard 52-card deck. If the card is a king, you win $10; otherwise, you lose $3. What is the expected value of the game
A card is drawn from a standard 52-card deck. If the card is a king, you...
A card is drawn from a standard 52-card deck. If the card is a king, you win $40; otherwise, you lose $1. What is the expected value of the game? Let X be the random variable for the amount won on a single play of this game. E(X)=dollars (Type an integer or a decimal rounded to the nearest cent as needed.)
It’s the same game as before with the same rules: in each round a fair coin...
It’s the same game as before with the same rules: in each round a fair coin is tossed and if it comes up heads you win $1, and if it comes up tails you lose $1. The game consists of 50 such rounds. Your net gain at the end of the game is defined as the total amount of money won by you during the game minus the total amount of money lost by you during the game. Having studied...
7. Alicia is playing a game by drawing a card from a standard deck and replacing...
7. Alicia is playing a game by drawing a card from a standard deck and replacing it. If the card is an Ace card, Alicia win $100. If it is not an Ace card, she pay $10. There are 4 Ace cards in a deck of 52 cards. Should Alicia play the game? A. Yes, she is expected to win money in the long term. B . No, she is expected to lose money in the long term.
2. Kyd and North are playing a game. Kyd selects one card from a standard 52-card...
2.
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...
A 5-card hand is dealt from a standard 52-card deck. If the 5-card hand contains at...
A 5-card hand is dealt from a standard 52-card deck. If the 5-card hand contains at least one four, you win $12; otherwise, you lose $3. What is the expected value of the game? The expected value of the game is dollars
You are playing a game by drawing a card from a standard deck and replacing it....
You are playing a game by drawing a card from a standard deck and replacing it. If the card is a face card, you win $30. If it is not a face card, you pay $2. There are 12 face cards in a deck of 52 cards. What is the expected value of playing the game? Create a probability distribution table below to find the expected value. Create a probability distribution table below to find the expected value. x P(x)...
A 5-card hand is dealt from a standard 52-card deck. If the 5-card hand contains at...
A 5-card hand is dealt from a standard 52-card deck. If the 5-card hand contains at least one ace, you win $9; otherwise, you lose $1. What is the expected value of the game? The expected value of the game is dollars. (Type an integer or a decimal rounded to two decimal places.)
2. You are playing a game where you chose a card at random from a standard...
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)...
Problem 2: Tails and (Heads or Tails?) Alice and Bob play a coin-tossing game. A fair coin (that is a coin with equal probability of 1. The coin lands 'tails-tails' (that is, a tails is immediately followed by a tails) for the first 2. The coin lands 'tails-heads (that is, a tails is immediately followed by a heads) for the landing heads and tails) is tossed repeatedly until one of the following happens time. In this case Alice wins. first...
A card is drawn from a standard 52-card deck. If the card is a king, you win $40; otherwise, you lose $1. What is the expected value of the game? Let X be the random variable for the amount won on a single play of this game. E(X)=dollars (Type an integer or a decimal rounded to the nearest cent as needed.)
2.
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...
A 5-card hand is dealt from a standard 52-card deck. If the 5-card hand contains at least one four, you win $12; otherwise, you lose $3. What is the expected value of the game? The expected value of the game is dollars
A 5-card hand is dealt from a standard 52-card deck. If the 5-card hand contains at least one ace, you win $9; otherwise, you lose $1. What is the expected value of the game? The expected value of the game is dollars. (Type an integer or a decimal rounded to two decimal places.)
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)...
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