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In a card game, you remove the jacks, queens, kings, and aces from an ordinary deck of cards and shuffle them. You draw a card.
In a card game, you remove the jacks, queens, kings, and aces from an ordinary deck of cards and shuffle them. You draw a card. If it is an ace, you are paid $1.00, and the game is repeated. If it is a jack, you are paid $2.00, and the game ends. If it is a queen, you are paid $3.00, and the game ends. If it is a king, you are paid $4.00, and the game ends. What is the maximum amount of money a rational person would pay to play this game?
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