00:01
In this problem, it is said that a card game goes like this.
00:05
You draw a card from a standard deck of cards.
00:07
If it is a face card, you win $5, otherwise you lose $2.
00:11
You need to find the expected value for this game.
00:15
So the expected value for the game, that will be summation x times p of x.
00:23
Here x represents the gain and p of x represents the corresponding probability.
00:30
So first of all, it is said that you win $5 if it is a face card.
00:35
So if you win $5, the gain is $5.
00:38
So x is 5.
00:39
And we multiply that with the corresponding probability.
00:41
So that will be the probability of getting a face card.
00:44
And this will be the number of favorable outcomes divided by the total number of outcomes.
00:48
And the total number of outcomes is 52 because the standard deck of cards has 52 cards.
00:53
And the number of favorable outcomes will be the number of face cards.
00:56
Now, the face cards are the jacks, the queens, and the kings.
00:59
So that's three face cards for each suit, and there are four suits...