Question
In a gambling game, a woman is paid $7 if she draws an eight or a nine and $8 if she draws a ten
In a gambling game, a woman is paid $7 if she draws an eight or a nine and $8 if she draws a ten or a two from an ordinary deck of 52 playing cards. If she draws any other card, she loses. How much should she pay to play if the game is fair? ... If the game is fair, the woman should play $ to play. (Type an integer or a decimal. Round to the nearest cent as needed.)
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An Introduction to the Mathematics of financial Derivatives
Authors: Salih N. Neftci
2nd Edition
978-0125153928, 9780080478647, 125153929, 978-0123846822
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