You and a friend have created a carnival game fir your classmates. You plan to charge $1 for each time a student plays, and the payout for a win is $5. According to your calculations, the probability of a win is .05.

What is your expected value for this game?

This means that in average, you can gain how many dollars each time someone plays a game.

Mathematically, is your game considered a "fair" game for you and the players?