2.36 Is it worth it?: Andy is always looking for ways to make money fast. Lately, he has been trying to make money by gambling. Here is the game he is considering playing: The game costs $2 to play. He draws a card from a deck. If he gets a number card (2-10), he wins nothing. For any face card ( jack, queen or king), he wins $3. For any ace, he wins $5, and he wins an extra $20 if he draws the ace of clubs. a) Andy's expected profit per game is: $ |(Round to four decimal places.) Round to four decimal places. b) Would you recommend this game to Andy as a good way to make money? Explain. No, we expect Andy to lose money if he plays this game Yes, Andy could be lucky and might earn money in the long-run playing this game
2.36 Is it worth it?: Andy is always looking for ways to make money fast. Lately, he has been trying to make money by gambling. Here is the game he is considering playing: The game costs $2 to play. He draws a card from a deck. If he gets a number card (2-10), he wins nothing. For any face card ( jack, queen or king), he wins $3. For any ace, he wins $5, and he wins an extra $20 if he draws the ace of clubs. a) Andy's expected profit per game is: $ |(Round to four decimal places.) Round to four decimal places. b) Would you recommend this game to Andy as a good way to make money? Explain. No, we expect Andy to lose money if he plays this game Yes, Andy could be lucky and might earn money in the long-run playing this game
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
Related questions
Question

Transcribed Image Text:2.36 Is it worth it?: Andy is always looking for ways to make money fast. Lately, he has been trying to make
money by gambling. Here is the game he is considering playing: The game costs $2 to play. He draws a card
from a deck. If he gets a number card (2-10), he wins nothing. For any face card ( jack, queen or king), he
wins $3. For any ace, he wins $5, and he wins an extra $20 if he draws the ace of clubs.
a) Andy's expected profit per game is: $
|(Round to four decimal places.)
Round to four decimal places.
b) Would you recommend this game to Andy as a good way to make money? Explain.
No, we expect Andy to lose money if he plays this game
Yes, Andy could be lucky and might earn money in the long-run playing this game
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