Math Problem Statement
Kyd and North are playing a game. Kyd selects one card from a standard 52-card deck. If Kyd selects a face card (Jack, Queen, or King), North pays him $4. If Kyd selects any other type of card, he pays North $3.
Solution
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Math Problem Analysis
Mathematical Concepts
Probability
Expected Value
Game Theory
Formulas
P(Face card) = 12/52 = 3/13
P(Non-face card) = 40/52 = 10/13
Expected Value = (Payoff for face card × P(Face card)) + (Payoff for non-face card × P(Non-face card))
Theorems
Law of Total Expectation
Suitable Grade Level
Grades 10-12
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