Step-by-step explanation:
3f+3=t
s=2f
21=f+s+t
21=f+(2f)+(3f+3)
21=6f+3
18=6f
3=first
6=second
12=third
3.1 (it is the tenth place)
Answer:
Step 1: Expected value = -2.53 dollars
He makes - 1,803.89 dollars over 713 of these bets.
Step 2:
Step-by-step explanation:
Expected value of bet = (Winning probability * winning amount) - (losing probability * losing amount)
Winning probability = (13/52) * (12/51) = 0.0588
Losing probability = 1 - 0.0588 = 0.9412
Expected value = (37 * 0.0588) - (5 * 0.9412)
Expected value = -2.53 dollars
If this same bet of expected value -2.53 dollars is made 713 times, our expected losses are:
2.53 * 713 = 1,803.89 dollars
Thus he makes - 1,803.89 dollars over 713 of these bets.
