There are 52 cards in a standard deck of cards. The number of cards with a value of 7 or less are 6 (7, 6, 5, 4, 3, and 2). Since there are 4 suits in one deck of cards, that would be a total of 24 cards.
The probability of getting a card 7 or less is 24/52.
Next, the remaining probability of drawing a card with a higher value than 7 would be 28/52.
Then, we need to find the value of each possible outcomes
*Since you have to pay $13, the value would be negative.
Your expected loss in one game is -$1.46.
Now, to know your expected loss in 757 games, we just have to multiply the