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What is the expected value of your bet

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Reference no: EM131804049

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 clubs, your friend will pay you $17. Otherwise, you have to pay your friend $3.

What is the expected value of your bet?

Reference no: EM131804049

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