A popular casino table game is three-card poker. One aspect of the game is the \

Question

A popular casino table game is three-card poker. One aspect of the game is the "pair plus" bet in which a player is paid a dollar amount for any hand of a pair or better, regardless of the hand the dealer has. The table shows the profit and probability of various hands of a player playing the $5 pair plus bet. a. What is the expected profit when playing the $5 pair plus bet in three card poker. b. If you play the game for 4 hours with an average of 35 hands per hour, how much would you expect to lose?

Explanation / Answer

from above

a) expected profit =$-12

b)total number of games =4*35=140

hence total expected lose =140*(0.12) =$16.22

x P(X) xP(X) x^2P(X) 200 0.002 0.43 86.88 150 0.002 0.35 52.94 30 0.033 0.98 29.32 20 0.050 0.99 19.84 5 0.169 0.85 4.24 -5 0.744 -3.72 18.60 Total 1.000 -0.12 211.81

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