Construct the probability distribution for the value of a 2 card hand dealt from a standard deck
Question:
Construct the probability distribution for the value of a 2 card hand dealt from a standard deck of 52 cards ( all face cards have a value of 10 and an ace has a value of 11).
a. What is the probability of being dealt 21?
b. What is the probability of being dealt 16?
c. Construct a chart for the cumulative distribution function. What is the probability of being dealt a 16 or less? Between 12 and 16? Between 17 and 20?
d. Find the expected value and standard deviation of a 2 card hand.
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...
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2Card Hands Second card First card 2 3 4 5 6 7 8 9 10 11 2 00045 00060 00060 00060 ...View the full answer
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Related Book For 
Business Analytics Methods Models and Decisions
ISBN: 978-0321997821
2nd edition
Authors: James R. Evans
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