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Author Question: Consider the following game. You pick a card from a deck and each time you select an ace, you get ... (Read 273 times)

nautica902

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Question 1

Consider the following game. You roll a six-sided die and each time you roll a 6, you get $30. For all other outcomes you pay $6. Since the expected value of this game is $0, the game is called a(n)


◦ gamble.
◦ fair bet.
◦ even game.
◦ zero sum game.

Question 2

Consider the following game. You pick a card from a deck and each time you select an ace, you get $260. For all other cards you must pay $13. What is the expected value of the game?


◦ -$12
◦ $0
◦ $8
◦ $32


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Marked as best answer by nautica902 on Apr 19, 2019

Kingjoffery

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