Assignment #2 In each of the following problems find the answer in two ways. a) Thinking. b) Simulation. 1. A bridge hand consists of 13 cards from a standard deck. You will be paid for cards in the hand as follows: $1 for each Jack $2 for each Queen $3 for each King $4 for each Ace. What is the fair price to pay for a random bridge hand? 2. Two cards will be drawn from a standard deck. If both are spades you will paid $1, otherwise you get $0. What is the fair price for this game when (a) the draws are with replacement? (b) the draws are without replacement? 3. Three dice are rolled. You get $1 for each 6 that shows up; but, you lose $1 if there are no 6's. Is this a good game for you? 4. Three dice are rolled. If there is at least one odd number among the three dice you win a dollar; if all the dice are even then you lose the sum of the dice. Is this a good game for you? 5. A coin is tossed until a head appears; you collect a dollar each time the coin is tossed. What is the fair price to pay to play this game?