Andy is always looking for ways to make money fast. Lately, he has been trying to make
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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 nd 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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Related Book For
OpenIntro Statistics
ISBN: 9781943450077
4th Edition
Authors: David Diez, Mine Çetinkaya-Rundel, Christopher Barr
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