Charlie has a bag with 8 balls numbered 1 through 8. He is playing a game of chance. This game is this: Charlie chooses one ball from the bag at random. He wins $1 if the number 1 is selected, $2 if the number 2 is selected, $3 if the number 3 is selected, $4 if the number 4 is selected, and $5 if the number 5 is selected. He loses $3.40 if 6, 7, or 8 is selected. (a) Find the expected value of playing the game. dollars (b) What can Charlie expect in the long run, after playing the game many times? ( He replaces the ball in the bag each time. ) Charlie can expect to gain money. He can expect to win dollars per selection. O Charlie can expect to lose money. He can expect to lose dollars per selection. O Charlie can expect to break even (neither gain nor lose money)