You Pick a Card from a Deck

question 28

Multiple Choice

You pick a card from a deck.If you get a club,you win $80.If not,you get to draw again (after replacing the first card) .If you get a club the second time,you win $30.Otherwise you win nothing.
Create a probability model for the amount you win at this game.

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Definitions:

Large Denomination Time Deposits

High-value deposits in a bank with fixed terms, which typically offer higher interest rates than regular savings accounts.

M2

A measure of the money supply that includes cash, checking deposits, and easily convertible near-money instruments, such as savings deposits and money market securities.

Reserve Ratio

The fraction of depositors' balances that banks must have on hand as cash, a requirement set by central banking authorities.

Gold Coins

Metal currency minted from gold, historically used as both a medium of exchange and store of value.