Calculating Expected Value - Mathematics
You are dealt a poker hand. If it contains an Ace you get your $2 back, plus another $1. What is the (expected) value of the game to you? p(no Ace) = 0.659; p(at least one A) = 0.341 Outcomes Probability Payoff to you At least one ace 0.341 $1 + ($2 - $2) No aces 0.659 -$2
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