Freebird https://www.youtube.com/watch?v=vKLJdmR6UGU Midnight Train to GA https://www.youtube.com/watch?v=IujS69xyLTY.

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Freebird https://www.youtube.com/watch?v=vKLJdmR6UGU Midnight Train to GA https://www.youtube.com/watch?v=IujS69xyLTY

Warm-up 1. You pay $10 to play the following game. You draw a card from a standard deck of 52 cards. You will win $10 if you draw a red card and you will win $20 is you draw a black ace. Find the expected value and calculate how much do you expect to win or loss if you play this game 100 times?

Warm-up 2. An lawyer figures that she has a one in three chance of winning a case. Her out of pocket expenses for a case are $5,000. If she is paid her fee only if she wins the case, what should she charge clients in order to breakeven?

3 At a raffle, 2000 tickets are sold at $6 each. There are 8 prizes: one $1000, one $500, two $100, and four $50. Is this a fair game? Explain your answer.