Question

you draw a a single card from a standard 52 deck of cards. if it is red you win $50 otherwise you get nothing what is the expected value of the game to you

Answer 1

$25

Explanation:

Total number of possible cases in the game = 52 cards .

Number of favourable cases for you to win the price = 26. (number of red

cards in the deck)

as half of the cards in the deck are red and other half are black.

Thus,

Probability of wining the game =
`(26)/(52)`.

= 0.5

Now,

Wining the game will pay you $50 , Thus ,

Expected value of game = $50×Probability of winning.

= $25.