Multiple Choice
A standard deck of cards contains 52 cards, of which 4 are aces. You are offered the following wager: draw one card at random from the deck. You win $10 if the card drawn is an ace. Otherwise, you lose $1. If you make this wager very many times, what will be the mean outcome?
A) about -$1, because you will lose most of the time
B) about $9, because you win $10 but lose only $1
C) about -$0.15, that is, on the average you lose about 15 cents per play
D) about $0.77, that is, on the average you win about 77 cents per play
E) about $0, because the random draw gives you a fair bet
Correct Answer:

Verified
Correct Answer:
Verified
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