A casino offers the following game: you draw one card from a standard 52-card deck. If you draw a jack, you win $1.25. If you draw a queen, you win $3.25. If you draw a king, you win $5.25 dollars. If you draw any ace except the ace of spades, you win $6.75. If you draw the ace of spades, you win $8.5.
The entry fee to play this game is $2. Compute the expected value of this gamble (include the entry fee in your expected value).
Numbers and figures are an essential part of our world, necessary for almost everything we do every day. As important…
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