Question

Please help! Correct answer only!

In a carnival game, there is a machine that will shuffle a deck of 50 cards numbered from 1 to 50 and then spit one card out. If the number on the card is odd, you win $15. If the number on the card is even, you win nothing. If you play the game, what is the expected payoff?

$___

Answer 1

$7.50

Explanation:

Since there is a 50% chance that the card is odd, the expected payoffs would be $15 * 50%=0.5*15=7.5. Hope this helps!