Question: You draw two cards from a deck and win the following: $200 if you draw any pair $50 if you draw two cards of the

You draw two cards from a deck and win the following:

  • $200 if you draw any pair
  • $50 if you draw two cards of the same suit
  • $0 if you draw anything else

a) What is your expected winnings?

b) Now assume you are required to pay a $30 fee to play. Should you play?

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