You draw a card from a deck. If you get a red​ card, you win nothing. If you get a​ spade, you win ​$12. For any​ club, you get ​$30 plus an extra ​$40 for the ace of clubs. ​a) Create a probability model for the amount you win at this game. ​b) Find the expected amount​ you'll win. ​c) How much would you be willing to pay to play this​ game?

MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
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You draw a card from a deck. If you get a red​ card, you win nothing. If you get a​ spade, you win
​$12.
For any​ club, you get
​$30
plus an extra
​$40
for the ace of clubs.
​a) Create a probability model for the amount you win at this game.
​b) Find the expected amount​ you'll win.
​c) How much would you be willing to pay to play this​ game?
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