You Draw a Card at Random from a Standard Deck

question 74

Multiple Choice

You draw a card at random from a standard deck of 52 cards.Find the probability that the card is a diamond given that it is a queen.

• A)0.000
• B)0.500
• C)0.077
• D)0.250
• E)0.333

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Definitions:

Opportunity Loss Table

A table used in decision making to show the lost opportunities or costs associated with not choosing the best alternative.

Expected Monetary Value(EMV)

A method employed in making decisions that calculates the mean result in situations where the future holds potential but uncertain events.

Expected Monetary Value

The predicted average amount of money gained or lost from an investment or decision, calculated by considering all possible outcomes and their probabilities.

Gross Profits

Total revenue of a company minus the cost of goods sold.