Consider the following card game with a well-shuffled deck of cards. If you draw a red card, youwin nothing. If you get a spade, you win $60.72. For any club, you win $28.22 plus an extra $76.69for the ace of clubs. What is the expected value of your winnings if you play the game?Round your answer to five decimal places.Answer:

Consider a game with a standard deck of cards.If a red card is drawn, you win nothing.If a spade is…

Answered: Consider the following card game with a…

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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A bag contains 4 green jelly beans, 8 blue jelly beans, and 4 red jelly beans? What is the chance a student would pull a red jelly bean? A. 25% B. 50% C. 75% D. 100%
Calculate the probability of winning: Roll two standard dice. You win if you get a sum of 4 or get a sum of 8.
The student council is hosting a drawing to raise money for scholarships. They are selling tickets for $7 each and will sell 600 tickets. There is one $1,000 grand prize, three $200 second prizes, and thirteen $10 third prizes. You just bought a ticket. Find the expected value for your profit. Round to the nearest cent. $
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The student council is hosting a drawing to raise money for scholarships. They are selling tickets for $9 each and will sell 600 tickets. There is one $1,000 grand prize, three $400 second prizes, and seventeen $30 third prizes. You just bought a ticket. Find the expected value for your profit. Round to the nearest cent.
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Assuming you were lucky enough to win and the pay off odds were 35:1, how much money would you get back? Dont forget to include your original $5 bet in your payout. $. DO NOT include $ sign in your answer.

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