Question

Suppose a person offers to play a game with you In
this game, when you draw a card from a standard
52 - Card deck if the card is a face card you win Rs3
and if the card is anything else you lose Rs.1 If agree
to play game what is your expected gain or loss​

Answer 1

Answer:

$gain = {probability \: of \: drawing \: a \: face \: card } \times 3\\ \\ gain = \frac{12}{52} \times 3 \\ \\ gain = \frac{3}{13} \times 3 \\ \\ gain = 0.2307692308 \times 3 \\ \\ gain = 0.6923076923 \\ \\ gain = 0.69 \: \: rupees$

$loss = probability \: of \: drawing \: card \: other \: than \: face \: card \times 1\\ \\ loss = \frac{40}{52} \times 1\\ \\ loss = \frac{10}{13} \times 1 \\ \\ loss = 0.7692307692 \times 1 \\ \\ loss = 0.76 \: \: rupees$

$so \: \\ \\ gain = Rs.0.69/- \: \: \: \: \: \: loss = Rs.0.79/-$

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