You pick a card from a deck.If you get a face card,you win $15.If you get an ace,you win $30 plus an extra $60 for the ace of hearts.For any other card you win nothing.Find the expected amount you will win.
A)$8.08
B)$4.62
C)$6.92
D)$6.35
E)$7.50

Question

Quizplus · Accepted Answer

There are 16 cards out of 52 that will result in a win. 
The probability of getting a face card is 12/52 (since there are 12 face cards in a deck of 52 cards).
The probability of getting an ace is 4/52 (since there are 4 aces in a deck of 52 cards).
Therefore, the probability of winning nothing is 36/52.
So, the expected winnings are:
E(win) = (12/52) * $15 + (4/52) * ($30+$60) + (36/52) * $0
E(win) = $1.15 + $1.15 + $0
E(win) = $2.30
Therefore, the best choice is C, since it has the closest value to the expected winnings.

You Pick a Card from a Deck