Suppose that you and a friend are playing cards
Question # 00634817
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Updated on: 01/08/2018 07:10 AM Due on: 01/08/2018
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 clubs, your friend will pay you $17. Otherwise, you have to pay your friend $3.
What is the expected value of your bet?
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Rating:
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Solution: Suppose that you and a friend are playing cards