Business, 16.03.2020 18:29, BossKnight

If you draw a card with a value of three or less from a standard deck of cards, I will pay you $6. If not, you pay me $5. (Aces are considered the highest card in the deck.) Step 1 of 2: Find the expected value of the proposition. Round your answer to two decimal places. Losses must be expressed as negative values.

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If you draw a card with a value of three or less from a standard deck of cards, I will pay you $6. I...