Explanation Given: A single card is drawn from a standard 52-card deck, if hand contains at least a diamond card an amount of $10 is won otherwise $4 is lost. Formula used: Probability: If each simple event in sample space S is likely to occur as any other, then the probability of an arbitrary event E is given by, P ( E ) = Number of elements of E Number of elemenst of S = n ( E ) n ( S ) Expected value: The expected value of the variable X is, E ( X ) = ∑ i = 1 n x i p i In the formula x i denotes the values of random variable X and p i denotes the corresponding probability values. Calculation: A standard deck contains 52 cards, in which 13 are diamond and 39 are non-diamond cards. The probability of getting at least a diamond card is, P ( at least diamond ) = 1 − 39 C 5 52 C 5 = 1 − 575 , 757 2 , 598 , 960 = 1 − 0

College Mathematics for Business, Economics, Life... (Instructor's)

14th Edition

ISBN: 9780134676104

Author: Barnett

Publisher: PEARSON

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Chapter 8.5, Problem 32E

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The expected value of the game.

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Chapter 8 Solutions

College Mathematics for Business, Economics, Life... (Instructor's)

Ch. 8.1 - Repeat Example 1 for The outcome is a number...Ch. 8.1 - Prob. 2MP Ch. 8.1 - Prob. 3MP Ch. 8.1 - Suppose in Example 4 that after flipping the...Ch. 8.1 - Prob. 5MP Ch. 8.1 - Prob. 6MP Ch. 8.1 - Prob. 7MP Ch. 8.1 - Prob. 8MP Ch. 8.1 - Prob. 1ED Ch. 8.1 - Prob. 1E

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