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STAT 2023-You draw a card from a deck. If you get a red card,

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January 12th, 2018

You draw a card from a deck. If you get a red card, you win nothing. If you get a spade, you win $11. For any club, you get $30 plus an extra $50 for the ace of clubs.a) Create a probability model for the amount you win at this game.b) Find the expected amount you’ll win.c) How much would you be willing to pay to play this game?PLease show the steps.

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