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Assignment 3: Probability
Due Week 10 and worth 15 points
You are playing Texas Holdâ€™em against one other opponent.
You and your opponent have both already bet $24,000 into the pot each. Your opponent now adds $10,000 to the pot. You only have $10,000 left in total.
While you consider what to do, your opponent, in an effort to rattle you, reveals his down cards. They are 10â™£ 10â™ .
Remember your opponent has at least a pair of 10s. What cards could come up to make your hand better? What could come up to make your opponentâ€™s hand better? Is there any way you could tie each other? Also look at the expected value of the game. If you fold, you are assured a loss of $24,000. Make sure this fact is used in your analysis.
Write a 1-2 page paper in which you:
- Explain your strategy for solving the problem.
- Explain why your strategy will work.
- Execute your strategy showing your mathematical work.
- Draw conclusions from your work.
Your assignment must:
- Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides. Check with your professor for any additional instructions.
- Include a cover page containing the tile of the assignment, the studentâ€™s name, the professorâ€™s name, the course title, and the date. The cover page is not included in the required assignment page length.
The specific course learning outcomes associated with this assignment are:
- Differentiate between circumstances requiring permutations and those requiring combinations.
- Use technology and information resources to research issues in algebra.
- Write clearly and concisely about algebra using proper writing mechanics.