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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 rep
Question
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 diamonds, your friend will pay you $296. Otherwise, you have to pay your friend $17.
What is the expected value of your bet?
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4 years
2021-07-29T06:20:13+00:00
2021-07-29T06:20:13+00:00 1 Answers
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Answer:
False because $296=$296