Suppose that you and a friend are playing cards and decide to make a bet. If your friend draws three diamonds in succession from a standard deck of 52 cards with replacement, you give him $50. Otherwise, he pays you $10. If the same bet was made 20 times, how much would you expect to win or lose? Round your answer to the nearest cent, if necessary.
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Home » Mathematics » Suppose that you and a friend are playing cards and decide to make a bet. If your friend draws three diamonds in succession from a standard deck of 52 cards with replacement, you give him $50. Otherwise, he pays you $10.