Question: 7. You pick a card from a deck. If it is a face card, you will win P500.00. If you get an ace, you will

7. You pick a card from a deck. If it is

7. You pick a card from a deck. If it is a face card, you will win P500.00. If you get an ace, you will win P1,000. If the card you picked is red you get P100.00. For any other card, you will win nothing. Find the expected value that you can possibly win. (10 points)

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