A number with the same value as 32?
2 answers:
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Answer:
a) - 0.54
b) No, we expect Andy to lose money each time he plays this game. This game is not a good way to make money.
Step-by-step explanation:
We are told the game costs $2 to play.
In a card game, we have the following:
Total number of cards = 52
Number of number cards (2-10)=36
Number of face cards = 12
Number of ace = 3
Number of ace of clubs = 1
The probability and profits of the game is calculated below.
Probability he gets a number card 2-10 =
Profit = - $2
Probability he gets a face card:
Profit = $3 - $2 = $1
Probability he gets an ace:
Profit = $5 - $2 =$3
Probability he gets an ace of clubs:
Profit = $25 - $2 =$23
Andy's expected profit per game wil be given as:
E = probability * profit
= [(0.69 * -2)+(0.23 * 1)+(0.06 * 3)+(0.02 * 23)]
= -0.54
b) No, we expect Andy to lose money each time he plays this game. This game is not a good way to make money.
Andy's expected profit per game (-0.542) is negative, which means he doesn't make any profit per game.