Answer to Question #235752 in Statistics and Probability for LORAINE

Question

The game consists of drawing a card from a deck. You win Php 100.00 if you draw the ace of spades or lose Php 5.00 if you draw any other card.

Answer 1

$E(X)=\frac{1}{52}*100.00+\frac{51}{52}*(-5)=-\frac{155}{52}\approx-Php2.98.$