Description of expected profit

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At a fair run by a local charity organization, it costs 50 cents to try one's luck in drawing an ace from a deck of 52 playing cards. What is the expected profit per customer, if they pay $4 if and only if a person draws an ace?

Reference no: EM13103255

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Description of expected profit : At a fair run by a local charity organization, it costs 50 cents to try one's luck in drawing an ace from a deck of 52 playing cards. What is the expected profit per customer

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