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 $37. 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. Answer Tables Keypad How to enter your answer Keyboard Shortcuts

MATLAB: An Introduction with Applications
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ISBN:9781119256830
Author:Amos Gilat
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## Lesson: Discrete Random Variables

### Exercise on Expected Value

**Question 4 of 15, Step 1 of 2**

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 $37. 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.

**Answer Box:**

$ [Enter your answer here]

**Submit Answer Button**

This exercise involves calculating the expected value of a wager made while drawing cards from a deck. Understanding discrete random variables is crucial for this calculation. Please use keyboard shortcuts for efficiency.
Transcribed Image Text:## Lesson: Discrete Random Variables ### Exercise on Expected Value **Question 4 of 15, Step 1 of 2** 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 $37. 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. **Answer Box:** $ [Enter your answer here] **Submit Answer Button** This exercise involves calculating the expected value of a wager made while drawing cards from a deck. Understanding discrete random variables is crucial for this calculation. Please use keyboard shortcuts for efficiency.
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