If you draw a card with a value of four or less from a standard deck of cards, I will pay you $⁢7. If not, you pay me $⁢6.  (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.

Algebra and Trigonometry (MindTap Course List)
4th Edition
ISBN:9781305071742
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter14: Counting And Probability
Section14.CR: Chapter Review
Problem 9CC: a Suppose that a game gives payouts a1,a2,...,an with probabilities p1,p2,...pn. What is the...
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If you draw a card with a value of four or less from a standard deck of cards, I will pay you $⁢7. If not, you pay me $⁢6.  (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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