Quiz

You are playing a game of Black Jack and are dealt the 3 of hearts and the five of clubs.  The dealer has an Ace of spades showing.  You place $5 on the insurance line meaning that if the dealer has a down card of 10, Jack, Queen, or King, you win $10.  Otherwise you lose your $5 bet.

A.  Write down a probability distribution table for this game.

B.  Find the expected value and interpret it using a complete sentence.