Question

Kira has a deck of 10 cards numbered 1 through 10. She is playing a game of chance.

This game is this: Kira chooses one card from the deck at random. She wins an amount of money equal to the value of the card if an even numbered card is drawn. She loses $5.50 if an odd numbered card is drawn.

a) find the expected value of playing the game.

___ dollars

b) what can Kira expect in the long run, after playing the game many times? (She replaces the card in the deck each time)

a) kira can expect to gain money. She can expect to win ___ dollars per draw

b) kira can expect to lose money. She can expect to lose ___ dollars per draw.

c) kira can expect to break even (neither gain nor lose money)

Answer 1

Answer:

A. The expected value of playing the game is 0.25

B. She can expect in the long run to gain 0.25 dollars per draw.

Step-by-step explanation:

On 10 draws with each card drawn once....

Winnings: 2+4+6+8+10=30

Losses: 5(5.50)=27.50

She gains an average of $2.50 in each group of 10 games, or $0.25 per game.