you draw from a deck. if you get a red card you win nothing. if you get a spade you win $5. for any club you win $10 plus an extra $20 for the ace of clubs.
A. create a probability model for the amount you win.
B. Find the expected amount you will win.
C. What would you be willing to pay for this game
2 answers
four times the difference of -19 and 3 amounts to -88
I'm dealing with the same problem
1 answer