A game is played using a standard 52-card deck. The player pays $5.00 to play and gets to pick one card at random from the deck. If the player picks an ace, they win $10.00. If they pick a face card, they win $8.00. If the player picks a numbered card, they win $3.00. What is the expected value of the game?_

A game is played using a standard 52-card deck. The player pays $5.00 to play and gets to pick one card at random from the deck. If the player picks an ace, they win $10.00. If they pick a face card, they win $8.00. If the player picks a numbered card, they win $3.00. What is the expected value of the game?_

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

See similar textbooks

Similar questions

In a game of one-spot Keno, a card is purchased for $1.00. It allows a player to choose one number from 1 to 80. The dealer then chooses twenty numbers at random from 1 to 80. If the player's number is among the numbers chosen by the dealer then the player is paid $3.00, but does not get to keep the $1.00 paid to play the game. What is the expected value of buying one card?
A card is draw from a standard 52-card deck. If the card is a diamond, you win $10; otherwise, you lose $4. what is the expected value of the game
A bag contains 2 gold marbles, 9 silver marbles, and 20 black marbles. Someone offers to play this game: You randomly select one marble from the bag. If it is gold, you win $3. If it is silver, you win $2. If it is black, you lose $1. What is your expected value if you play this game?
Two coins are flipped. You win $1 if either 2 heads or 2 tails turn up, and you lose $3 if a head and a tail turn up. What is the expected value of the game?
Hector plays a game with a friend. They have a bag which contains 13 red stones and 3 black stones. They pay $1 and pull out a stone. If the stone is black, Hector wins $6. If the stone is red, Hector wins nothing.. What is the expected value of the game?
A game is played using a standard 52-card deck. The player pays $3.00 to play and gets to pick one card at random from the deck. If the player picks an ace, they win $12.00. If they pick a face card, they win $7.00. If the player picks a numbered card, they win $1.00. What is the expected value of the game?
In the USA, roulette wheels have 38 slots. They are the numbers 1 through 36, 0, and 00. Half of the numbers 1 through 36 are red, and the other half are black, so there are 18 red numbers and 18 black numbers. The numbers 0 and 00 are green. If you bet $5 on red, you win $5 if the ball lands on a red number. Otherwise, you lose your $5. In class we found your expected value from this bet was $-.26. However, if you play in Atlantic City, they give you a break when betting on a single color like red and if the ball lands on 0 or 00 you only lose half your bet, or $2.50. If the ball lands on black you still lose your whole bet of $5.00. Find the expected value of betting $5 on red in Atlantic City.
Find the probability of obtaining the given 5-card poker hand. three of a kind
An exclusive raffle is being held where only 7 tickets are available. The raffle is free to enter. If you choose to play, you could win $7 or lose $3. Three tickets are winning tickets and you will win $7 if your ticket is drawn. Four tickets are losing tickets where you must pay $3 if your ticket is drawn. What is the expected return if you enter the raffle?
In a game, you roll a die. If you get a 1 or a 5, you would win $5. If you roll a 4 you win $15 and if you roll a 2, 3, or 6 you lose $10. What is the expected value of one roll of the die? Type a response