To the right are the probabilities and values associated with five outcomes of an experiment. Calculate the expected value for the experiment. Outcome ABCDE Probability 0.1 Value 0.1 0.3 -2 0.1 -2 2522 0.4 7 The expected value for this experiment is . (Round to the nearest tenth as needed.) A certain game consists of rolling a single fair die. If a four or five comes up, you win 6 dollars; otherwise, you lose 3 dollars. Find the expected winnings for this game. Is this a fair game? The expected value for this game is dollars. A card is drawn from a standard 52-card deck. Calculate the expected value for the game. A player must pay 15 dollars to play the game, which must be subtracted from the winnings. If a heart is drawn, the player wins 23 dollars; otherwise, they lose their 15 dollars. Calculate the price that would make the game fair. The expected value of this game is dollars. (Round to the nearest cent as needed.) For the past several years, a fire department has been keeping track of the number of fire hydrants that have been opened illegally daily during the heat waves. These data (rounded to the nearest 10) are given in the table below. Use this information to calculate how many hydrants the department should expect to be opened per day during the upcoming heatwave. Hydrants Opened Days 20 13 30 10 40 6 50 10 60 8 70 8 The expected number of fire hydrants opened is (Round to the nearest whole number as needed.) A student is taking a standardized test consisting of several multiple-choice questions. One point is awarded for each correct answer. Questions left blank neither receive nor lose points. There are six options for each question and the student is penalized 1 point for each wrong answer. Is it in the student's best interest to guess? Explain. Determine if it is in the best interest of the student to guess and explain your answer using the expected value. Choose the correct answer below. (Round to two decimal places as needed.) A. The student will have no loss or gain by guessing because the expected value is B. Yes, the student should guess because the expected value is C. No, the student should not guess because the expected value is A company estimates that it has a 40% chance of being successful in bidding on a $62,000 contract. If it costs $6,500 in consultant fees to prepare the bid, what is the expected gain or loss for the company if it decides to bid on this contract? There is an expected (Type an integer or a c for the company of $ gain loss