Simple expected value calculations are at the heart of Kahneman and Tversky's prospect theory. Calculate the expected value of the following gamble. You are playing the following game: draw a card out of a 52-card deck that has 26 red cards and 26 black cards. Assume that you are equally likely to draw either color. Your bet is such that if you draw a black card, then you win $18; if you draw a red card, then you lose $13. What is the expected value of your bet, i.e., the expected payoff from one round of play? Round your answer to the nearest penny. Do not enter the $ symbol in your answer. If the expected value is negative, then include a minus sign. Next