Suppose That a Student Is Offered a Chance to Draw

Multiple Choice

Suppose that a student is offered a chance to draw a card from an ordinary deck of 52 playing cards and win $18 for an ace, $8 for a king, and $1 for a queen. If $5 must be paid to play the game, what is the expected loss every time the game is played by the student? ​

A) expected loss $4.08
B) expected loss $2.92
C) expected loss $5.00
D) expected loss $2.08
E) expected loss $1.77