Please help! A game is said to be fair if the expected value (after considering thecost) is 0. This would mean that in the long run, both the player and the"house" or whoever is putting on the game, would expect to winnothing.If the value is positive, the game is in your favor. If the value is negative,the game is not in your favor. At a carnival, you pay $1 to choose a cardfrom a standard deck. If you choose a red card you double your money,but if you pick a black card you do not get any. (A standard deck ofcards has 52 card. 26 of the cards are red.)10**••• 1. Complete the probability distribution below.Color of card x → Net Money Won or LostP(x)Red+ + $BlackClick to view hint2. What is the expected value?Click to view hint3. Does the player or the carnival have the advantage?Neither the player or the carnival +4. Is this a fair game? Yes +

Name: Please help! A game is said to be fair if the expected value (after co
Uploaded: 2024-03-20T07:07:37.000Z
Channel: Bartleby
Description: Please help! A game is said to be fair if the expected value (after considering thecost) is 0. This would mean that in the long run, both the player and the"house" or whoever is putting on the game, would expect to winnothing.If the value is positive