4. Suppose you were playing a card game and you randomly draw a card from a standard deck. If the card is: 1) an ACE, you win $10. 2) a Face Card, you win $4. (Face Cards are Jacks, Queens, and Kings) 3) a Numbered Card, you lose $3. (Numbered cards range from 2 through 10) Find the EXPECTED win or lose per game over the long run (Express your answer in dollars and/or cents). Indicate if this is a "win" or "loss". (Hint: See Application Example #1 in sec 4.2 lecture notes.) Let X = Amt you win/lose for playing 1 game

MATLAB: An Introduction with Applications
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4. Suppose you were playing a card game and you randomly draw a card from a standard deck.
If the card is:
1) an ACE, you win $10.
2) a Face Card, you win $4. (Face Cards are Jacks, Queens, and Kings)
3) a Numbered Card, you lose $3. (Numbered cards range from 2 through 10)
Find the EXPECTED win or lose per game over the long run
(Express your answer in dollars and/or cents). Indicate if this is a "win" or "loss".
(Hint: See Application Example #1 in sec 4.2 lecture notes.)
Let X = Amt you win/lose for playing 1 game
Transcribed Image Text:4. Suppose you were playing a card game and you randomly draw a card from a standard deck. If the card is: 1) an ACE, you win $10. 2) a Face Card, you win $4. (Face Cards are Jacks, Queens, and Kings) 3) a Numbered Card, you lose $3. (Numbered cards range from 2 through 10) Find the EXPECTED win or lose per game over the long run (Express your answer in dollars and/or cents). Indicate if this is a "win" or "loss". (Hint: See Application Example #1 in sec 4.2 lecture notes.) Let X = Amt you win/lose for playing 1 game
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