MAT 144 Week 7 Discussion 1

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MAT 144 Week 7 Discussion 1

A friend invites you to play a game of chance that costs you $1 every time to play. You get to pick one card. You win if you pick the ace of spades. Otherwise, you lose. The amount that you win will be $(40 + the day of your birth). Example: If you were born on the fourth of July, you would win 40+4 = $44. What is the expected value of the amount you will win from each turn? Would it be a good idea to play this game only one time? Would it be a good idea to play 1,000 times?

 

 

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