Question

You pay $3.00 to play. The dealer deals you one card. If it is a spade, you get $10. If it is anything else, you lose your money. What is the expected value? Round to 2 decimal places.

Answer 1

There are 13 spade cards in a regular deck of 52 cards.

I would say the expected value of pulling a spade card is 13/52 = .25 then multiply by 100 to get 25%.

Then the expected value of not pulling a spade would be the remaining value.

52 - 13 = 39 (non-spade cards)

39/52 = .75 multiply by 100, 75%

Pull a spade : 25%

Not pull a spade : 75%