make_a_sandwich
New member
Suppose a student is offered a chace to draw a card from an ordinary deck of 52 playing ards and win $15 for an ace, $10 for a king, and $1 for a queen. If $4 must be paid to play the game, what is the expected winnings every time the game is played by the student?
Answer is expect to lose $2 each time
my Question is how do you get this answer?
To Tarek:
I have a textbook, and thats what the answer at the back of the book says.....
I am posting this question so i can learn the method, The textbook most of the time doesnt show you how to answer the harder application questions.
Answer is expect to lose $2 each time
my Question is how do you get this answer?
To Tarek:
I have a textbook, and thats what the answer at the back of the book says.....
I am posting this question so i can learn the method, The textbook most of the time doesnt show you how to answer the harder application questions.