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Mathematics, 09.03.2021 04:40 atefah88

Hearts win. In a new card game, you start with a well-shuffled full deck and draw 3 cards without replacement. If you draw 3 hearts, you win $50. If you draw 3 black cards, you win $25. For any other draws, you win nothing. (a) Create a probability model for the amount you win at this game, and find the expected winnings. Also compute the standard deviation of this distribution. (b) If the game costs $5 to play, what would be the expected value and standard deviation of the net profit (or loss)

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Hearts win. In a new card game, you start with a well-shuffled full deck and draw 3 cards without re...
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