Consider the Following Game

question 46

Multiple Choice

Consider the following game. You pick a card from a deck and each time you select an ace, you get $260. For all other cards you must pay $13. What is the expected value of the game?

• A) -$12
• B) $0
• C) $8
• D) $32

---

Definitions:

Timeplot

A graphical representation showing a sequence of values of a variable over time.

Closing Values

A term often used in finance and investing to refer to the final price of a stock or asset when the market closes for the day.

High

A term which can refer to an elevated status, level, or degree of something, often used in a comparative context.

Categorical

Pertaining to data that can be divided into specific groups or categories that are qualitatively distinct.