Mathematics, 25.02.2020 16:58, happy121906

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) Find the expected winnings for a single game.
(b) Find the standard deviation of the winnings.
(c) If the game costs $5 to play, what would be the expected value of the net profit (or loss)?
(Hint: profit = winnings - cost; X - 5)
(d) If the game costs $5 to play, what would be the standard deviation of the net profit (or loss)?
(e) If the game costs $5 to play, should you play this game?

Answers: 3

Show answers

Other questions on the subject: Mathematics

Mathematics, 21.06.2019 20:00, AleOfficial101

Hell . what are the solutions to `10x^2 - 38x - 8 = 0`? is this when i find the factors and use the numbers within the factors to determine the zeros? i hope that made sense lol

Answers: 2

continue

Mathematics, 21.06.2019 22:00, lkarroum3733

1) prove that 731^3−631^3 is divisible by 100 2) prove that 99^3−74^3 is divisible by 25

Answers: 2

continue

Mathematics, 21.06.2019 23:30, jordynp2615

In the diagram, ab is tangent to c, ab = 4 inches, and ad = 2 inches. find the radius of the circle.

Answers: 2

continue

Mathematics, 22.06.2019 00:00, Geo777

The statements below can be used to prove that the triangles are similar. ? △abc ~ △xyz by the sss similarity theorem. which mathematical statement is missing? ∠b ≅ ∠y ∠b ≅ ∠z

Answers: 3

continue

Do you know the correct answer?

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