Question

Asked Sep 28, 2019

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Please explain me each step.

Kyd and North are playing a game. Kyd selects one card from a standard 52-card deck. If Kyd selects a face card (Jack, Queen, or King), North pays him $6. If Kyd selects any other type of card, he pays North $2. Round to the second decimal place.

a) What is Kyd's expected value for this game? Round your answer to the nearest cent. $

b) What is North's expected value for this game? Round your answer to the nearest cent. $

c) Who has the advantage in this game?

I don't know where the 3/13 comes from?

P(Kyd selects a face card) = (4x3)/52

= 3/13

P(Kyd does not select a face card) = 1 -( 3/13 )

= 10/13

a) Kyd's expected value for this game = (3/13)x4 - (10/13)x2 = 0.9231 - 1.5385

= $ **-0.62**

b) North's expected value for this game = (10/13)x2 - (3/13)x4

= $ 0.62

c) North's expected value is positive

**North** has advantage in this game

1 Rating

Step 1

Here, total number of face card is 12 from the deck of cards and the remaining card is 40.

If Kyd selects a face card (Jack, Queen, or King), North pays him $6.

If Kyd selects any other type of card, he pays North $2.

(a)

Kyd's expected value for this game is obtained as follows:

Step 2

Thus, the Kyd's expected value for this game is **–0.15**.

(b)

North's expe...

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