In a gambling game, a woman is paid $3 if she draws a jack or a queen and $5 if she draws a king or an ace from an ordinary deck of 52 playing cards. If she draws any other card, she loses. How much should she pay to play if the game is fair?

Statistics 41 Week 3 Chapter 3 Part 2 ➪Coefficient of Variation (CV): measures the spread of the data relative to the mean of the data; measured as a percentage Standard deviation ÷ mean = CV (multiply a nswer b y 100 ake it ercentage) ● A smaller CV indicated a higher consistency, which is usually better ➪Z-score: measures the number of standard deviations a data value is from the mean of the data set (Data value − Mean) ÷ Standard deviation = Z − score ● Has no units ● If the z-score is negative the data value is below the mean ● If the z-score