Question

there are 100 cards in a hat numbered 1 to 100 the game is to draw one card out of the hat if the number you draw is odd you win $19.if the number you draw is even you win nothing. if you play the game what is the expected payoff

Answer 1

Step-by-step explanation:

There are 100 cards numbered 1 to 100.

• The number of even cards, E = 50

,

• The number of odd cards, O = 50

The various probabilities are calculated below:

`\begin{gathered} P(E)=(50)/(100)=(1)/(2) \\ P(O)=(50)/(100)=(1)/(2) \end{gathered}`