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There is a hat with seven slips of paper in it numbered one through seven. You pay $1 to reach into the hat and draw

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There is a hat with seven slips of paper in it numbered one through seven. You pay $1 to reach into the hat and draw one slip. If it is an even number you get a $3 prize, otherwise you get nothing. What is the expected value of each trial? (A) expected to win $0.29 (B) expected to win $1.29 (C) expected to lose $0.29 (D) expected to lose $1.29 (E) expected to lose $1.00

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