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In a new card game, you start with a well-shuffled full deck and draw 3 cards without replacement. If you draw 3 hearts, you win
In a new card game, you start with a well-shuffled full deck and draw 3 cards without replacement. If you draw 3 hearts, you win $60. If you draw 3 black cards, you win $30. For any other draws, you win nothing. (Round your answers to two decimal places.) (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. soo=x o= (b) If the game costs $5 to play, what would be the expected value and standard deviation of the net prot (or loss)? (Hint: prot = winnings cost; X 5) E
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