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A card is drawn from a standard52-card deck. Calculate the expected value for the game. A player must pay 5 dollars to play thegame, which
A card is drawn from a standard52-card deck. Calculate the expected value for the game. A player must pay 5 dollars to play thegame, which must be subtracted from the winnings. If a heart isdrawn, the player wins 8 dollars; otherwise, they lose their 5 dollars. Calculate the price that would make the game fair.
The expected value of this game is ___ dollars. (Round to the nearest cent asneeded.)
The fair price of this game is ___dollars. (Round to the nearest cent asneeded.)
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