Question

a card game goes like this: you draw a card from a 52 card deck. If it is a face card jack queen or king you win 5 dollars; otherwise, you lose 2 dollars. What is your expected value for this game?

e(x)= (5)1/52-(2)1/52= 3/52 or 3.00

Answer 1

(5)(3/13) - 2(10/13) = -5/13

You better stay away from this game.

There are 13 cards in each suit of which 3, the jack, queen and king are winners. The other 10, ace through 10, are losers