Question
A standard deck of cards has 52 cards with a number card from 2-10 and A, K, Q, J of each suit. There are 4
A standard deck of cards has 52 cards with a number card from 2-10 and A, K, Q, J of each suit. There are 4 suits - Hearts (red), Diamonds (red), Spades (black) and Clubs (black).
The cost to play the game is $10. I will draw a randomly selected card from the deck. Here are the outcomes:
- Ace of Diamonds - You win $500
- Any other Ace - You win $50
- Any other Diamond - You win $10 (which means you really break-even)
- Any other card - You lose your $10
use Excel to calculate the amount you expect to win or lose based on this information. the full probability model (all outcomes and the probabilities) and the Expected Value using the SUMPRODUCT function in Excel. a sentence that explains what your solution means and whether this is a good game for you to play.
O-negative blood can be given to anyone and is found in about 6.6% of people. If donors line up at random, what is the probability that 2 of the first 4 donors have O-neg. blood? tell which distribution is needed and why. Then either post your steps in excel
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