.) Create a probability distribution for a player’s winnings in one game. b.)Find the expected value of the player’s winnings. State your answer in a sentence. c.) Will the casino make money or lose money if this game is played 500 times? How much?

.) Create a probability distribution for a player’s winnings in one game. b.)Find the expected value of the player’s winnings. State your answer in a sentence. c.) Will the casino make money or lose money if this game is played 500 times? How much?

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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Question

A casino game involves a deck of 20 cards, 3 of which have a gold star on them. A player picks a
card at random. If they pick a card with a star, they win $30. If they pick a card with no star, they
lose $5.

a.) Create a probability distribution for a player’s winnings in one game.

b.)Find the expected value of the player’s winnings. State your answer in a sentence.

c.) Will the casino make money or lose money if this game is played 500 times? How much?

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