$.02 more added.
For that sensor to work, you need power and ground. So I suspect you have three wires. Usually [but not always] the outer two wires are power and ground and the inner wire sends the signal back to the ECU. Usually the power wire is supplied by the ECU. It may work on 5V. So, with the sensor plugged in, see what the voltage is. If you have none, then you have something to start checking. Don't forget to test the ground. Then check the signal wire from the sensor to the ECU.
I feel you have a timing issue and the ECU is indicating that. The definition of the code indicates it's an implausible signal. That tells me that the signal is OK, but it's not at the right time. Therefore, the cam timing is off. If the cam sensor was unplugged, you would get a different code. Don't believe me? Unplug the cam sensor when the engine is running and see what additional codes you will get.
So, test the sensor, make certain it's working. I believe it will be and if it is, you got a timing issue. You need to get that right.
You may be ok to waste $10, but if I had that attitude with my clients, I would be out of work. Rarely is there a part cheap enough to throw at it without some type of test. There are tests that take a lot of time and since time is money, replacing the part may be the cheapest route. Shot gunning parts is a terrible habit to start.