A game advertises, EVERYONE IS A WINNER! It costs $1 to play. You get to choose a card from a standard deck of 52

playing cards. If you choose a red card, you win $3. If you choose a black card, you get $2. What is the expected value of

playing this game?

$1.50

$1.80

-$0.50

$2

And the cost of play would be 1 with probability 1 for any given game. Then we can find the expected value like this:

And solving we got:

And then the best answer for this case would be:

$1.50

Step-by-step explanation:

For this case we can calculate the expected value with this formula:

We assume that the standard deck is formed just with red and black cards. For this case we have the following info:

And the cost of play would be -1 with probability 1 for any given game. Then we can find the expected value like this:

And solving we got:

And then the best answer for this case would be:

$1.50

4/11 (2/2) = 8/22

4/11 (3/3) = 12/33

4/11 (4/4) = 16/44