Question: Please show the work. 4. A card is drawn from a standard 52-card deck. Calculate the expected value for the game. A player must pay
Please show the work.

4. A card is drawn from a standard 52-card deck. Calculate the expected value for the game. A player must pay 7 dollars to play the game, which must be subtracted from the winnings. If a spade is drawn, the player wins 12 dollars; otherwise, they lose their 7 dollars. Calculate the price that would make the game fair. The expected value of this game is dollars. (Round to the nearest cent as needed.) The fair price of this game is dollars. (Round to the nearest cent as needed.)
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