Mathematics, 04.05.2021 01:20 mrguyman

Please help and please no links or blanks as answers as well. Charlie plays a game where he wins $5 if he draws a king form a deck and loses $1 for all other cards. a) Find the expected value.
b) if this game is not fair, what payout would make it fair?

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Please help and please no links or blanks as answers as well. Charlie plays a game where he wins $5 if he draws a king form a deck and loses $1 for all other cards. a) Find the expected value. b) if this game is not fair, what payout would make it fair?

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Another question on Mathematics

Please help and please no links or blanks as answers as well. Charlie plays a game where he wins $5 if he draws a king form a deck and loses $1 for all other cards. a) Find the expected value.
b) if this game is not fair, what payout would make it fair?