Select Five Cards Without Replacement from a Standard Deck of 52

question 69

Multiple Choice

Select five cards without replacement from a standard deck of 52, and let X be the number of black cards you draw. Calculate the expected value of the given random variable X.

• A) \(E ( X ) = 26\)
• B) \(E ( X ) = 1.8\)
• C) \(E ( X ) = 3\)
• D) \(E ( X ) = 2.5\)
• E) \(E ( X ) = 3.2\)

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Definitions:

Comparative Advantage

Comparative advantage occurs when a country can produce a good at a lower opportunity cost than another country.

Absolute Quantities

A term used to describe the total amount of a product, asset, or resource, measured independently and without comparison to other entities.

Free Trade

A policy to eliminate discrimination against imports and exports, allowing goods to move freely between countries without tariffs or quotas.

Comparative Advantage

The ability of an entity to produce a good or offer a service at a lower opportunity cost than its competitors.