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Suppose you pay $10 to play a card game with the following rules:

You draw 2 cards out of a standard deck of 52 cards without replacement.

If the 2 cards are of the same suit (i.e. both clubs, both diamonds, etc) you win $15 (a $5 profit).

If the 2 cards are the same value (i.e. both jacks, both 2's, etc) you win $18 (an $8 profit).

a) If you play this game what is your expected winnings or loss (to the nearest cent)?

b) Is winning money at this game an unusual event? (hint: consider making an interval of ordinary values around the mean).

Solution Summary

Calculates probability.