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  3. in a game of cards you win $1 if you draw an even

In a game of cards you win $1 if you draw an even number, $2...

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Question

Statistics

In a game of cards you win $1 if you draw an even number, $2 ifyou draw diamonds, $5 if you draw a king and $10 if you draw thequeen of diamonds. You get nothing for any other card that youdraw.

  1. In any random draw, how much money should you expect towin?

  1. What is the standard deviation of expected winnings?

Answer & Explanation Solved by verified expert
4.0 Ratings (574 Votes)
Suppose random variable X denotes amount of money in dollarsgainedIt is given that 10 is won in case of queen of    See Answer
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