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In a gambling game a person draws a single card from an
Chapter 3, Problem 23E(choose chapter or problem)
Problem 23E
In a gambling game a person draws a single card from an ordinary 52-card playing deck. A person is paid $15 for drawing a jack or a queen and $5 for drawing a king or an ace. A person who draws any other card pays $4. If a person plays this game, what is the expected gain?
Questions & Answers
QUESTION:
Problem 23E
In a gambling game a person draws a single card from an ordinary 52-card playing deck. A person is paid $15 for drawing a jack or a queen and $5 for drawing a king or an ace. A person who draws any other card pays $4. If a person plays this game, what is the expected gain?
ANSWER:
Solution:
Step 1 of 2:
A person draws a single card from an ordinary 52- card playing deck.
A person is paid $15 for drawing a jack or a queen and $5 for drawing a king or an ace.
A person who draws any other card pays $4.
If a person plays the game, we have to find the expected gain of the person.