Andy is always looking for ways to make money fast

Question # 00316615 Posted By: kimwood Updated on: 06/11/2016 06:11 PM Due on: 07/11/2016
Subject Statistics Topic General Statistics Tutorials:
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Is it worth it?Andy is always looking for ways to make money fast. Lately, he has been trying to make money by gambling.

Here is the game he is considering playing:

The game costs $2 to play. He draws a card from a deck. If he gets a number card (2-10), he wins nothing. For any face card (jack, queen or king), he wins $3. For any ace, he wins $5, and he wins an extra $20 if he draws the ace of clubs.(a) Create a probability model and find Andy's expected profit per game.(b) Would you recommend this game to Andy as a good way to make money?Explain.

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  1. Tutorial # 00312066 Posted By: kimwood Posted on: 06/11/2016 06:11 PM
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