Leila has a deck of 10 cards numbered 1 through 10 . She is playing a game of chance.
This game is this: Leila chooses one card from the deck at random. She wins an amount of money equal to the value of the card if an even numbered card is drawn. She loses $6 if an odd numbered card is drawn.
(a) Find the expected value of playing the game.
(b) What can Leila expect in the long run, after playing the game many times?
(She replaces the card in the deck each time.)
Leila can expect to gain money.
Leila can expect to lose money.
Leila can expect to break even (neither gain nor lose money).