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A game of chance involves a regular deck of 52 cards. The game costs $3 to...

A game of chance involves a regular deck of 52 cards. The game costs $3 to play. If you draw an ace you win $20. If you draw a face card you win $5. If you draw a 10 you win $3 and if you draw any other card you lose. Calculate the expected winnings for the player, calculate the expected profits for the game owner. Is this a fair game? If not explain why the game owner would want the game slightly in his favour..

Math   Statistics-And-Probability   
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