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Math Help - probabilty ang statistic

  1. #1
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    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?
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  2. #2
    Grand Panjandrum
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    Quote Originally Posted by alderon View Post
    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:

    <br />
e=(8/52)\times 3 + (8/52) \times 5 - (36/52) \times X<br />

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

    RonL
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