Asked by WAM
Sarah draws cards from a deck of 52 cards. She receives $.40 for each heart, $.50 for an ace, and $.90 for an ace of hearts. If each draw costs $.15 should she play the game?
Answers
Answered by
bobpursley
expected value=probability*reward
EV=.40*12/52 + .50*4/52 + .90(1/52)
= 1/52 * (4.80+2+.9)=7.60/52=.13
It is a losing game.
EV=.40*12/52 + .50*4/52 + .90(1/52)
= 1/52 * (4.80+2+.9)=7.60/52=.13
It is a losing game.
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