Consider a Game That Consists of Dealing Out a Hand

question 31

Multiple Choice

Consider a game that consists of dealing out a hand of two random cards from a deck of four cards.The deck contains the Ace of Spades (As) ,the Ace of Hearts (Ah) ,the King of Spades (Ks) and the 9 of Hearts (9h) .What is the probability that you have at least one Ace?

• A)1/6
• B)2/6
• C)3/6
• D)4/6
• E)5/6

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Definitions:

Discount Rate

A rate used to determine the present value of future cash flows.

Incremental Cash Flow Principle

The concept that financial decisions should be made based on the changes in cash flows that the decisions will cause, ignoring cash flows that will not be affected.

Negative Effects

Adverse outcomes or impacts that result from an action, event, or policy.

Sunk Costs

Costs that have already been incurred and cannot be recovered, which should not affect future business decisions.