Homework SourseA person selects a card from a deck If it is a red card he w
A person selects a card from a deck. If it is a red card, he wins $1. If it is a black card between and including 2 and 10, he wins $5. If it is a black face card, he wins $10, and if it is a black ace, he wins $100. Find the expected value
Solution
Thus expected win = 233/26
| x | Red | Black | ||||
| Two-Ten | others | Two-Ten | Face card | Ace | ||
| Wins | 1 | 1 | 10 | 10 | 100 | |
| Prob | 9/26 | 2/13 | 9/26 | 3/26 | 1/26 | 1 |
| p*win | 9/26 | 2/13 | 3 6/13 | 1 2/13 | 3 11/13 | 8 25/26 |
