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Business, 02.03.2020 17:33 uhhgray

) Suppose I ask you to pick any four cards at random from a deck of 52, without replacement, and bet that if at least one of the four is a face card (i. e., Jack, Queen, or King), you pay me one dollar; otherwise I pay you one dollar. Should you take the bet? Why? (Hint: See how the probability of this event compares to 50%. If this is too hard, try it with replacement first.) (b) What if the bet involves picking three cards at random instead of four? Should you take the bet then? Why?

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