Suppose that you and a friend are playing cards and you decide to make a friendly wager. The bet is that you will draw two cards without replacement from a standard deck. If both cards are diamonds, your friend will pay you $801. Otherwise, you have to pay your friend $48. Step 1 of 2 : What is the expected value of your bet? Round your answer to two decimal places. Losses must be expressed as negative values.
let X be the amount of net gain to you
P(X=801)=P(both cards of diamond) =P(first diamond)*P(2nd diamond |first diamond)
=(13/52)*(12/51)
P(X=-48) =P*(not both are diamond) =(1-(13/52)*(12/51))
therefore expected value of bet =E(X) =xP(X) =801*((13/52)*(12/51))+(-48)*(1-(13/52)*(12/51))
= 1.94
Suppose that you and a friend are playing cards and you decide to make a friendly...
Suppose that you and a friend are playing cards and you decide to make a friendly wager. The bet is that you will draw two cards without replacement from a standard deck. If both cards are diamonds, your friend will pay you $487. Otherwise, you have to pay your friend $29. Step 1 of 2 : What is the expected value of your bet? Round your answer to two decimal places. Losses must be expressed as negative values.
Suppose that you and a friend are playing cards and you decide to make a friendly wager. The bet is that you will draw two cards without replacement from a standard deck. If both cards are spades, your friend will pay you $39. Otherwise, you have to pay your friend $5. Step 1 of 2 : What is the expected value of your bet? Round your answer to two decimal places. Losses must be expressed as negative values.
Suppose that you and a friend are playing cards and you decide to make a friendly wager. The bet is that you will draw two cards without replacement from a standard deck. If both cards are spades, your friend will pay you $49 . Otherwise, you have to pay your friend $5 Step 1 of 2 : What is the expected value of your bet? Round your answer to two decimal places. Losses must be expressed as negative values.
Suppose that you and a friend are playing cards and you decide to make a friendly wager. The bet is that you will draw two cards without replacement from a standard deck. If both cards are hearts, your friend will pay you $25.00. Otherwise, you have to pay your friend $5.00. What is the expected value of your bet?
Correct Suppose that you and a friend are playing cards and you decide to make a friendly wager. The bet is that you will draw two cards without replacement from a standard deck. If both cards are hearts, your friend will pay you $606. Otherwise, you have to pay your friend $36. Step 2 of 2: If this same bet is made 615 times, how much would you expect to win or lose? Round your answer to two decimal places....
Suppose you are asked to draw ten cards without replacement from a regular deck of 52 playing cards. What is the probability of getting exactly 3 Queens or exactly 3 Kings (or both)? I also need help with the other two, please provide an explanation with your work and I will promptly give a positive rating. С https://drive.google.com/drive/folders/lyinXTMXuBMbKU3nO0oRbVKV ug pg 1 Yrmu (18) Suppose you are asked to draw 5 cards from a deck of 52 regular playing cards (a)...
Suppose we randomly select 5 cards without replacement from an ordinary deck of playing cards. What is the probability of getting exactly 2 red cards (fi.e, hearts or diamonds)? Select one: O C O a. 0.22640 b, 0.32513 e. 0.29235 d.0.44259 e.0.19277
Suppose we randomly select 5 cards without replacement from an ordinary deck of playing cards. What is the probability of getting exactly 2 red cards (fi.e, hearts or diamonds)? Select one: O C O a. 0.22640 b, 0.32513 e. 0.29235 d.0.44259 e.0.19277
If you draw a card with a value of five or less from a standard deck of cards, I will pay you $20. If not, you pay me $5. (Aces are considered the highest card in the deck.) Step 1 of 2 : Find the expected value of the proposition. Round your answer to two decimal places. Losses must be expressed as negative values.
you are dealt two cards successively (without replacement) from a shuffled deck of 52 playing cards find the probability that both cards are black Express your answer as a simplified