Cedric invented a game with a standard deck of cards You dra

Cedric invented a game with a standard deck of cards. You draw one card. If it is a face card you win $10. Otherwise you must pay $5. What is the expected value for each trial of Cedric\'s game?

Solution

No of face cards in a deck are 12.

Total cards are 52.

X the drawn card can be a face card a non face card

Prob 12/52 40/52

Gain 10 -5

Expected gain = 120/52-200/52 = -80/52 = -1.538