Solution-Calculate the expected value for the game

Calculate the expected value for the game

Reference no: EM131724796

A card is drawn from a standard? 52-card deck. Calculate the expected value for the game. A player must pay 5dollars to play the? game, which must be subtracted from the winnings. If a heart is? drawn, the player wins 8 ?dollars; otherwise, they lose their 5 dollars. Calculate the price that would make the game fair.

The expected value of this game is ___ dollars. ?(Round to the nearest cent as? needed.)

The fair price of this game is ___dollars. ?(Round to the nearest cent as? needed.)

Reference no: EM131724796

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Calculate the expected value for the game : A card is drawn from a standard? 52-card deck. Calculate the expected value for the game. A player must pay 5dollars to play the? game

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Calculate the expected value for the game

Reference no: EM131724796

Reference no: EM131724796

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