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= 3/13P(Kyd does not select a face card) = 1 -( 3/13 )= 10/13a) Kyd's expected value for this game = (3/13)x4 - (10/13)x2 = 0.9231 - 1.5385= $ -0.62b) North's expected value for this game = (10/13)x2 - (3/13)x4= $ 0.62c) North's expected value is positiveNorth has advantage in this game

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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

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Expert Answer

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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:

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12 6- 52 40 K (x) 2 52 72-80 52 -8 52 =-0.15

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Step 2

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

(b)

North's expe...

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12 40 N (x) 2 6 52 52 80 72 52 8 52 =0.15

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