If you draw a card with a value of five or less from a standard deck of cards, I will pay you $7$ 7. If not, you pay me $7$ 7. (Aces are con

Question

If you draw a card with a value of five or less from a standard deck of cards, I will pay you $7$ 7. If not, you pay me $7$ 7. (Aces are considered the highest card in the deck.) Step 2 of 2 : If you played this game 543543 times how much would you expect to win or lose? Round your answer to two decimal places. Losses must be expressed as negative values.

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6 months 2021-07-24T02:40:03+00:00 1 Answers 13 views 0

Step-by-step explanation:

We have the following:

— cards in a standard deck

Represent cards with a value of 5 or less with x

So:   i.e 4 cards

However, each of these has a frequency of 4.

So:

The probability is:

The cost of this is:

Represent cards with a value of above 5 with y

The probability is:

The cost of this is:

— It is negative because you lost

In a game, your expected amount is:

When you play 543 times, the expected amount is: