QuestionDraw a card from a deck: win \$5 for an ace, \$6 for a face ace, lose \$3 for others. Find the probability distribution and expected gain.

Studdy Solution
implify the expression to get the expected gain from this game.
$$Expected\, Gain = \$5 \times \frac{}{} + \$6 \times \frac{}{52} - \$ \times \frac{12}{} = -\$2.23$$The expected gain from this game is -\$2.23. This means that on average, the player will lose \$2.23 per game.