a. A game consists of removing a card from a deck of 52 cards. If the card
Question:
a. A game consists of removing a card from a deck of 52 cards. If the card is a face card, you win \(\$ 1\) and the game is over. If it is not a face card, remove another card. If that one is a face card, you win \(\$ 1\). Repeat the process again, and then again (for a total of 4 times). If you have not removed any face card, then you lose the game, and must pay \(\$ 1\). Should you play this game?
b. Repeat this game, but replace the card before doing the following draw.
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Step by Step Answer:
Alright to decide whether we should play this game or not we need to calculate the expected value of this game and then decide based on the result a I...View the full answer
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