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True [87]
3 years ago
7

You pay .50 cent to draw a card from a deck. if you draw an ace you win ten dollars if you draw a face card(12 in a deck) you wi

n a $1. what is your expected value
Mathematics
1 answer:
sveticcg [70]3 years ago
5 0
The probability that a face card can be drawn from a standard deck of cards is 12/52 which can be simplified into 3/13.

The expected value is the product of the probability and the value.
                       Expected value = (3/13)($1) = $0.23
The difference between the amount spent and the expected value is equal to $0.27.
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