probabilty ang statistic

• Sep 23rd 2007, 02:47 AM
alderon
probabilty ang statistic
In gambling game,a man is paid 3 dollars if he draws a jack or queen and 5 dollars if he draws a king or ace from an ordinary deck of 52 playing cards.if he draws any other card he loses.How much should he play if the game fair?
• Sep 23rd 2007, 06:46 AM
CaptainBlack
Quote:

Originally Posted by alderon
In gambling game,a man is paid 3 dollars if he draws a jack or queen and 5 dollars if he draws a king or ace from an ordinary deck of 52 playing cards.if he draws any other card he loses.How much should he play if the game fair?

Let the stake be $X$, then to be a fair game requires that
the expected return be $0$. The expected return is:

$
e=(8/52)\times 3 + (8/52) \times 5 - (36/52) \times X
$

So solve this for $X$ to find what s fair stake is.

RonL