Assignment 3: Probability
Due Week 10 and worth 15 points
You are playing Texas Hold’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 10♣ 10♠.
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 opponent’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 student’s name, the professor’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.