Suppose That a Student Is Offered a Chance to Draw

question 86

Multiple Choice

Suppose that a student is offered a chance to draw a card from an ordinary deck of 52 playing cards and win $18 for an ace, $8 for a king, and $1 for a queen. If $5 must be paid to play the game, what is the expected loss every time the game is played by the student? ​

• A)expected loss $4.08
• B)expected loss $2.92
• C)expected loss $5.00
• D)expected loss $2.08
• E)expected loss $1.77

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Definitions:

Positive Exponents

Exponents that are positive numbers, indicating how many times the base is multiplied by itself.

Expression

A combination of symbols that represent a quantity or a relationship between quantities, often including variables and constants.

Z

In statistics, \(Z\) often represents the z-score, a measure of how many standard deviations an element is from the mean.

Simplify

Reduction of expressions or equations to their simplest form by performing available operations.