(10 points) You are playing a game by drawing a card from a standard deck and replacing it. If the card is a face card, you win $30. If it is not a face card, you pay $2. There are 12 face cards in a deck of 52 cards. What is the expected value of playing the game? Should you play the game?
Added by Jason H.
Step 1
There are 12 face cards (King, Queen, Jack of each suit) in a deck of 52 cards. So, the probability of drawing a face card is 12/52 = 0.23076923076923078. There are 40 non-face cards in a deck of 52 cards. So, the probability of drawing a non-face card is 40/52 Show more…
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