Question

A deck of cards contains 52 cards, of which 4 are aces. You are offered the following wager: Draw one card at random from the deck. You win $10 if the card drawn is an ace. Otherwise, you lose $1. If you make this wager very many times, what will be the mean amount you win?

Answer 1

Answer:

-$0.15

Step-by-step explanation:

We have been given win = $10, and loss = $-1

This deck of cards has 4 aces out of a total of 52 cards.

Then the probability can be explained as the number of favorable outcome/number of what is the possible outcome.

P(win) = number of favorable outcome/number of possible outcome

= 4/52

= 1/13

P(loss) = number of favorable outcome/number of possible outcome

= 48/52

= 12/13

Then we have

$10x1/13 + (-1)x12/13

= 10/13-12/13

= -2/13 dollars

= -$0.15