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1. While playing deck of cards, you bet a $10 for king and you have 1/38 probability of winning $350 and 37/38 probability of losing $10. If you bet $10 that the outcome is a club the probability of winning $10 is 18/38, and the probability of losing $10 is 20/38.
(a) Define a discrete random variable.
(b) If that person bet $10 on for a king, what is your expected value?
(c) Is the bet on number a king probability distribution? Why?
(d) If you bet $10 that the outcome is a club, what is your expected value?
(e) Is the bet on the outcome is and odd number a probability distribution? Why?
(f) Which of these options is best: bet on a king, bet on a club, or don't bet? Why?
someone plse solve this question...
(a) Define a discrete random variable.
(b) If that person bet $10 on for a king, what is your expected value?
(c) Is the bet on number a king probability distribution? Why?
(d) If you bet $10 that the outcome is a club, what is your expected value?
(e) Is the bet on the outcome is and odd number a probability distribution? Why?
(f) Which of these options is best: bet on a king, bet on a club, or don't bet? Why?
someone plse solve this question...