Question

Correct Suppose that you and a friend are playing cards and you decide to make a friendly wager. The bet is that you will draw two cards without replacement from a standard deck. If both cards are hearts, your friend will pay you $606. Otherwise, you have to pay your friend $36. Step 2 of 2: If this same bet is made 615 times, how much would you expect to win or lose? Round your answer to two decimal places. Losses must be expressed as negative values. Answer How to enter your answer Tables Keypad Previous step answer

Answer 1

Dear student ,

Let X = profit in $ we assign positve sign to profit and negative sign to loss .

Now , to obtained the expected profit

There 13 heart cards in a deck out wich both of them are drown without repitiation hearts cards then we get 606 $

Otherwise we have to pay 36 $

So, probability of winning is = 0.058823529

52 13 2 } 2

And probability of loosing is = 1- (probability of winning ) = 1- 0.058823529 = 0.94117647

step 2

if we repeated this experiment 615 times .

now expected value is

xi	r	pi	xi r pi
606	615	0.058823529	21922.94102
-36	615	0.941176471	-20837.64707
E(X)			1085.29395

So we can expected to win about $1085.29 .

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52 13 2 } 2