You draw a card from a deck. If you get a red card, you win nothing. If

Question:

You draw a card from a deck. If you get a red card, you win nothing. If you get a spade, you win $5. For any club, you win $10 plus an extra $20 for the ace of clubs.
a) Create a probability model for the amount you win.
b) Find the expected amount you'll win.
c) What would you be willing to pay to play this game?

Fantastic news! We've Found the answer you've been seeking!