Answer:
E=$19.307
Step-by-step explanation:
Total number of cards = 52
If you win then you will get $50
If you lose then you will give him $20
Therefore the probability
[tex]P(first\ card\ is\ face\ card)=\dfrac{12}{52}[/tex]
[tex]P(Second\ card\ is\ face\ card)=\dfrac{11}{51}[/tex]
[tex]P(Third\ card\ is\ face\ card)=\dfrac{10}{50}[/tex]
Thus the probability for all the three cards are face card
[tex]P=\dfrac{12}{52}\times \dfrac{11}{51}\times \dfrac{10}{50}[/tex]
P=0.0099
Thus the probability for all the three cards are not face card
P=1-0.0099=0.9901
P=0.9901
Therefore , expected value
[tex]E=20\times 0.9901-50\times 0.0099[/tex]
E=$19.307
Therefore the answer will be $19.307.
