9. If a $2 bet is placed for a chance to win $500 for drawing a 10 of any suit from a standard deck of cards, what is the value of expectation?

Question

9.   If a $2 bet is placed for a chance to win $500 for drawing a 10 of any suit from a standard deck of cards, what is the value of expectation?

ellamoyseyuk · Answer

@jim_thompson5910 can u help me

agent0smith · Answer

What's the probability of drawing a 10 from a deck of cards?

agent0smith · Answer

...how many 10's are in a deck of cards?

ellamoyseyuk · Answer

4

agent0smith · Answer

Now go back and answer the question

ellamoyseyuk · Answer

how would that answer my question

agent0smith · Answer

Because expectation is probability multiplied by the dollar outcome.

agent0smith · Answer

Why would i ask you something unrelated...

ellamoyseyuk · Answer

4 x 2 = 8

agent0smith · Answer

What's the probability of drawing a 10 from a deck of cards?

agent0smith · Answer

How many 10's are there in a deck.

How many cards are there in a deck.

ellamoyseyuk · Answer

4/52  = 1/8

agent0smith · Answer

Incorrect simplifying... try again.

What's the probability of NOT drawing a 10?

ellamoyseyuk · Answer

4/52 = 1/13

ellamoyseyuk · Answer

48/52 = 12/13

agent0smith · Answer

Expectation will be:

probability of a 10 times profit, plus, probability of NOT a 10 times profit

ellamoyseyuk · Answer

is the answer 125

agent0smith · Answer

Idk. Show work.

probability of a 10, times profit from drawing a 10 = ?

probability of NOT a 10, times profit from NOT drawing a 10 = ?

agent0smith · Answer

If you bet $2 and a 10 is drawn, you get $500, for a profit of $498

If you don't draw a 10, you lose $2, for a profit of -$2