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If you draw a card with a value of three or less from a standard deck...

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Basic Math

If you draw a card with a value of three or less from a standarddeck of cards, I will pay you $47. If not, you pay me $12. (Acesare considered the highest card in the deck.)

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Find the expected value of the proposition. Round your answer totwo decimal places. Losses must be expressed as negative values

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