Question
While traveling in Las Vegas, you have the opportunity to apply probability theory in a card game called Kings & Things. A player draws three
While traveling in Las Vegas, you have the opportunity to apply probability theory
in a card game called Kings & Things. A player draws three cards from a deck of cards, without
replacement (i.e., after drawing the first card it is not replaced before drawing the second, and so
on). If you draw exactly one King and no other face cards you win $5. If you draw exactly one
King and exactly one other face card (Jack or Queen) you win $10. If you draw exactly two Kings
and no other face cards you win $40. If you draw exactly one King and two other face cards you
win $60. If you draw exactly two Kings and one other face card you win $80. If you draw three
Kings, you win $100. For any other combination of cards, you win $0. (Assume you are playing
with a deck of 52 cards, with 4 suits and 13 cards in each suit [defined as 2-10, Jack, Queen, King,
Ace]. The face cards are the Jacks, Queens and Kings, with 4 of each).
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