I don't understand this question can someone help me with this please, please explain!! and thank you for the help!! If u dont k
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2 answers:
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Answer:
And the cost of play would be 1 with probability 1 for any given game. Then we can find the expected value like this:
And solving we got:
And then the best answer for this case would be:
$1.50
Step-by-step explanation:
For this case we can calculate the expected value with this formula:
We assume that the standard deck is formed just with red and black cards. For this case we have the following info:
And the cost of play would be -1 with probability 1 for any given game. Then we can find the expected value like this:
And solving we got:
And then the best answer for this case would be:
$1.50
Here is a table that will help you understand. And the answer.
