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 $5. If Kyd selects any other type of card, he pays North $2. a) What is Kyd's expected value for this game? b) What is North's expected value for this game? c) Who has the advantage in this game?

Step-by-step explanation:

In a 52 deck, there are 12 face cards (4 Jacks, 4 Queens, and 4 Kings). The remaining 40 cards are non-face cards.

The probability that Kyd draws a face card is 12/52, and the probability that he draws a non-face card is 40/52.

a) Kyd's expected value is:

K = (12/52) (5) + (40/52) (-2)

K = - 5/13

K ≈ - $0.38

b) North's expected value is:

N = (12/52) (-5) + (40/52) (2)

N = 5/13

N ≈ $0.38

c) Kyd is expected to lose money, and North is expected to gain money. North has the advantage.