OpenStax, Introductory Statistics 2e §4.2 Mean or Expected Value and Standard Deviation · Exercise 18 · Probability · Discrete distributions
Mean or Expected Value and Standard Deviation · Exercise 18
You are playing a game by drawing a card from a standard deck and replacing it. If the card is a face card, you win $30. If it is not a face card, you pay $2. There are 12 face cards in a deck of 52 cards. What is the expected value of playing the game?
OpenStax, Introductory Statistics 2e · §4.2 Mean or Expected Value and Standard Deviation · Exercise 18
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