You are considering playing a card game. The rules of the game are such that you pick

Question:

You are considering playing a card game. The rules of the game are such that you pick a card from a standard deck of 52 cards and if the card is a diamond, you win $30. The catch is, you have to pay the a fee of $10 to play the game. What is the expected value of this gamble?

Dealer
A dealer in the securities market is an individual or firm who stands ready and willing to buy a security for its own account (at its bid price) or sell from its own account (at its ask price). A dealer seeks to profit from the spread between the...