Question

Kyd and North are playing a game. Kyd selects one card from a standard 52-card deck. If Kyd selects a face card (Jack, Queen, or King), North pays him $5. If Kyd selects any other type of card, he pays North $2. a) What is Kyd's expected value for this game? b) What is North's expected value for this game? c) Who has the advantage in this game?

Answer 1

Step-by-step explanation:

In a 52 deck, there are 12 face cards (4 Jacks, 4 Queens, and 4 Kings).  The remaining 40 cards are non-face cards.

The probability that Kyd draws a face card is 12/52, and the probability that he draws a non-face card is 40/52.

a) Kyd's expected value is:

K = (12/52)(5) + (40/52)(-2)

K = -5/13

K ≈ -$0.38

b) North's expected value is:

N = (12/52)(-5) + (40/52)(2)

N = 5/13

N ≈ $0.38

c) Kyd is expected to lose money, and North is expected to gain money.  North has the advantage.

Answer 2

Kyd's expected value for this game is -$0.38.

North's expected value for this game is  $0.38.Kyd is expected to lose money, and North is expected to gain money.  

North has the advantage.

What is probability?

The area of mathematics known as probability deals with numerical representations of the likelihood that an event will occur or that a statement is true. An event's probability is a number between 0 and 1, where, roughly speaking, 0 denotes the event's impossibility and 1 denotes certainty.

Given

In a 52 deck, there are 12 face cards (4 Jacks, 4 Queens, and 4 Kings).  The remaining 40 cards are non-face cards.

The probability that Kyd draws a face card is 12/52, and the probability that he draws a non-face card is 40/52.

a) Kyd's expected value is:

K = (12/52)(5) + (40/52)(-2)

K = -5/13

K ≈ -$0.38

b) North's expected value is:

N = (12/52)(-5) + (40/52)(2)

N = 5/13

N ≈ $0.38

c) Kyd is expected to lose money, and North is expected to gain money.  North has the advantage.

To know more about probability refer to :

https://brainly.com/question/13604758

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