Suppose that you and a friend are playing cards and you decide to make a friendly...

Suppose that you and a friend are playing cards and you decide to make a friendly wager. The bet is that you will draw two cards without replacement from a standard deck. If both cards are hearts, your friend will pay you $⁢16. Otherwise, you have to pay your friend $⁢3.

Step 2 of 2 :

If this same bet is made 762 times, how much would you expect to win or lose? Round your answer to two decimal places. Losses must be expressed as negative values.

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Expert Solution

orchestra answered 1 year ago

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