Find the Expected Value

question 7

Multiple Choice

Find the expected value.
-You are given 12 to 1 odds against drawing two hearts when two cards are selected at random from a standard deck of 52 cards (with replacement of the first card before the second card is drawn) .
This means that you win $12 if you succeed and you lose $1 if you fail. Find the expected value (to
You) of the game. Round to the nearest cent.

• A)-$0.19
• B)$0.19
• C)-$0.92
• D)$2.25

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Definitions:

Episodic Memory

The aspect of memory that involves the recall of specific events, situations, and experiences.

Semantic Memory

A type of long-term memory involving the capacity to recall concepts, facts, and knowledge about the external world, independent of personal experience.

Retrograde Amnesia

The inability to recall events that occurred prior to a traumatic event.

Anterograde Amnesia

An inability to recall events that occur after some disturbance to the brain.