Two cards are drawn at random from an ordinary deck of 52 playing cards. If the...

Two cards are drawn at random from an ordinary deck of 52 playing cards. If the two cards display the same suit, you win $2. If they are the same color only, you win $1. Otherwise, you lose 50 cent. Calculate

(a) the expected value of the amount you win;

(b) the variance of the amount you win;

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Expert Solution

The solution to this problem is given below

orchestra answered 11 months ago

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