A game is played in which players pay $20. 3 cards are drawn from a standard deck of playing cards without replacement (the cards are not put back after each card is dealt). 3 of a kind (3 of the same number, Ace, or face card from different suits such as 9, 9, and 9) receive $400, 2 of a kind receive $50. All other hands do not win anything. What is the expected payoff value for a player in this game? O A) -$18.53 O B) -$16.12 O C) - $12.33 O D) - $5.29
A game is played in which players pay $20. 3 cards are drawn from a standard deck of playing cards without replacement (the cards are not put back after each card is dealt). 3 of a kind (3 of the same number, Ace, or face card from different suits such as 9, 9, and 9) receive $400, 2 of a kind receive $50. All other hands do not win anything. What is the expected payoff value for a player in this game? O A) -$18.53 O B) -$16.12 O C) - $12.33 O D) - $5.29
College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter9: Counting And Probability
Section9.4: Expected Value
Problem 1E: If a game gives payoffs of $10 and $100 with probabilities 0.9 and 0.1, respectively, then the...
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Transcribed Image Text:A game is played in which players pay $20. 3 cards are drawn from a standard deck
of playing cards without replacement (the cards are not put back after each card is
dealt). 3 of a kind (3 of the same number, Ace, or face card from different suits such
as 9, 9, and 9) receive $400, 2 of a kind receive $50. All other hands do not win
anything. What is the expected payoff value for a player in this game?
O A) -$18.53
B) -$16.12
C) - $12.33
O D) - $5.29
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