Math  /  Word Problems

QuestionDraw a card from a deck: win \11forafacecard,$9foranace,lose$6otherwise.Findtheexpectedgain:11 for a face card, \$9 for an ace, lose \$6 otherwise. Find the expected gain: -3.87$.

Studdy Solution
Calculate the expected gain.
(X)=$11×0.23076923077+$9×0.07692307692$6×0.69230769231=$3.87(X) = \$11 \times0.23076923077 + \$9 \times0.07692307692 - \$6 \times0.69230769231 = -\$3.87The expected gain from this game is -$3.87.

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