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25 February, 01:13

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?

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  1. 25 February, 03:48
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    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.
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