A game charges 1 to play and pays 4 if a card drawn from

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Reference no: EM13641344

A game charges $1 to play and pays $4 if a card drawn from the deck is a face card (Jack, Queen, or King); if not the player loses the money. Find the expected value of the gain for the player.

Outcome. Gain. Probability
Face. $4-$1=$3. ?
No Face. $0-$1=-$1. ?

Reference no: EM13641344

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