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...


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



Jun 02, 2022
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