Computing expected value in a game of chance Aldo has a deck of 10 cards numbered 1 through 10. He is playing a game of chance. This game is this: Aldo chooses one card from the deck at random. He wins an amount of money equal to the value of the card if an even numbered card is drawn. He loses $5.50 if an odd numbered card is drawn. (a) Find the expected value of playing the game. dollars (b) What can Aldo expect in the long run, after playing the game many times? (He replaces the card in the deck each time.) Aldo can expect to gain money. He can expect to win dollars per draw. Aldo can expect to lose money. He can expect to lose dollars per draw. O Aldo can expect to break even (neither gain nor lose money). X 5 2 Explanation Check