Question 1196467
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If aces are considered high cards, then "two or less" means only a 2 is a winning draw.  The probability of drawing a 2 is 4/52 = 1/13; the probability of drawing anything else is 12/13.<br>
The expected value is the sum of each probability times its associated value:<br>
(1/13)(+16) + (12/13)(-4) = 16/13 - 48/13 = -32/13<br>
ANSWER: -32/13 dollars<br>
You can do the conversion to a decimal and the prescribed rounding.<br>