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What is the expected value of a single

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Suppose that a deck with all face cards removed and all but the diamond cards are left to determine a money payoff, e.g., a draw of 2 of diamonds would pay $2, a 3 of diamonds would pay $3 ...a 10 of diamonds would pay $10. What is the expected value of a single draw from the deck, assuming that it has been well shuffled? Explain how you got your answer please.

Reference no: EM133081689

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