A game is played using one die. If the die is rolled and shows 5, the player wins $15. If the die shows any number other than 5, the player wins nothing. Complete parts (a) through (b) below.
a. If there is a charge of $3 to play the game, what is the game’s expected value?
(Round to the nearest cent.)
b. What does this expected value mean? Choose the correct statement below.
A. This value represents the expected loss over the long run for each game played.
B. The player can expect to break even over the long run.
C. This value represents the expected win over the long run for each game played.