Suppose you set up a carnival booth game at a local fund-rai…

Suppose you set up a carnival booth game at a local fund-raising event. The game consists of rolling a giant six-sided die. The participants pay $3 per roll. A participant who rolls a 6 wins a prize that costs you $8. A participant who rolls a 1 wins a prize that costs you $2.50. Participants who roll other numbers win nothing.  You will have to find out the expected value of your gain by answering several questions below.