Question
A game costs $2.00 to play. In the game, the player picks a card at random from a standard deck of cards. If the
A game costs $2.00 to play. In the game, the player picks a card at random from a standard deck of cards. If the card is a face card, the player receives $9.00, if the card is not a face card, the player receives nothing. What is the expected value for the player? Round your answer to the nearest cent. What does the expected value tell us about the game?
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Basic Business Statistics Concepts And Applications
Authors: Mark L. Berenson, David M. Levine, Timothy C. Krehbiel
12th Edition
132168383, 978-0132168380
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