Suppose a friend of yours decides to play a game. He shows you three cards, one is white on both sides, one is black on both sides and one card is white on one side and black on the other side. He mises the cards and lets you select one at random and place it on the table. Your friend then calls out the color on the underside. If he selects the right color, you lose $1.00; if he does

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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  1. Suppose a friend of yours decides to play a game. He shows you three cards, one is white on both sides, one is black on both sides and one card is white on one side and black on the other side. He mises the cards and lets you select one at random and place it on the table. Your friend then calls out the color on the underside. If he selects the right color, you lose $1.00; if he does not select the correct color on the underside, you win $X. Determine the value of X so that the game is even. Round to the nearest penny.
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