Another card game. In a new card game, you start with a well-shuffed full deck and draw 3 cards without replacement. If you draw 3 hearts, you win $50. If you draw 3 black cards, you win $25. For any other draws, you win nothing.

Question

Another card game. In a new card game, you start with a well-shuffed full deck and draw 3 cards without replacement. If you draw 3 hearts, you win $50. If you draw 3 black cards, you win $25. For any other draws, you win nothing.
(a) Create a probability model for the amount you win at this game, and nd the expected winnings. Also compute the standard deviation of this distribution.
(b) If the game costs $5 to play, what would be the expected value and standard deviation of the net pro t (or loss)? (Hint: profit = winnings - cost; X - 5)
(c) If the game costs $5 to play, should you play this game? Explain.