1.You pay $10 to play a game in which you receive $5 for a Jack, $10 for a Queen or King, $20 for an Ace and nothing for all other cards. Find the expected value of the game.

2.A company spends $4800 on preparing a request for proposal, they believe they have a 30% chance of winning the bid. If they win the bid, they will profit $125,000. Find the expected value of their bid.

3.An insurance company will offer a 28 year old male in good health $150,000 of life insurance for $400. If the probability of death that year is .001767 find the insurance company's expected value for the policy.