Suppose that you and a friend are playing cards and decide to make a bet. If you draw three fives in succession from a standard deck of 5252 cards with replacement, you win $70$⁢70. Otherwise, you pay your friend $10$⁢10. What is the expected value of your bet? Round your answer to the nearest cent, if necessary.

Suppose that you and a friend are playing cards and decide to make a bet. If you draw three fives in succession from a standard deck of 5252 cards with replacement, you win $70$⁢70. Otherwise, you pay your friend $10$⁢10. What is the expected value of your bet? Round your answer to the nearest cent, if necessary.

College Algebra

10th Edition

ISBN:9781337282291

Author:Ron Larson

Publisher:Ron Larson

Chapter8: Sequences, Series,and Probability

Section8.7: Probability

Problem 7ECP: You draw one card at random from a standard deck of 52 playing cards. What is the probability that...

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