Question

there are 100 cards in a hat numbered 1 to 100 the game is to draw one card out of the hat if the number you draw is odd you win $19.if the number you draw is even you win nothing. if you play the game what is the expected payoff

Answer 1

Answer:

Explanation:

There are 100 cards numbered 1 to 100.

• The number of even cards, E = 50

,

• The number of odd cards, O = 50

The various probabilities are calculated below:

$\begin{gathered} P(E)=\frac{50}{100}=\frac{1}{2} \\ P(O)=\frac{50}{100}=\frac{1}{2} \end{gathered}$