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4. You are confident in your skills at Mario Kart and regularly wager on games with your friends. Each game is a $5 buy-in among

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4. You are confident in your skills at Mario Kart and regularly wager on games with your friends. Each game is a $5 buy-in among you and your five friends. If you take first you win $15, and if you place in second or third you get your $5 back. Any other result and you lose your buy-in. If you have a 40% chance of placing first and 30% chance of placing second or third: A. What is the expected value of you competing with your friends on average? (A /2) B. Should you continue to play? Why or why not? (T /2)

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