document.write( "Question 204042: 1000 raffle tickets are sold at $3 each. One grand prize of $100 and two consolation prizes of $75 will be awarded. Find Jake’s expectation if he purchases one ticket. \r
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Algebra.Com's Answer #153979 by Edwin McCravy(20059)\"\" \"About 
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1000 raffle tickets are sold at $3 each. One grand prize of $100 and two consolation prizes of $75 will be awarded. Find Jake’s expectation if he purchases one ticket.
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document.write( "There are three possibilities:\r\n" );
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document.write( "1. Jake wins the grand prize of $100, but since he\r\n" );
document.write( "   paid $3, that amounts to winning only +$97.\r\n" );
document.write( "2. Jake wins one of the two consolation prizes of $75,\r\n" );
document.write( "   but since he paid $3, that amounts to winning +$72.\r\n" );
document.write( "3. Jake wins 0$, and since he paid $3, that amounts to \r\n" );
document.write( "   losing $3, which can be thought as \"winning\" -$3. \r\n" );
document.write( "  (Losing is considered \"winning\" a negative number \r\n" );
document.write( "   of dollars.)\r\n" );
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document.write( "The probability that 1 will occur is   1/1000 or 0.001\r\n" );
document.write( "The probability that 2 will occur is   2/1000 or 0.002\r\n" );
document.write( "The probability that 3 will occur is 997/1000 or 0.997\r\n" );
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document.write( "Winnings:   Probability     Winnings × Probability\r\n" );
document.write( "    X           P                  X × P \r\n" );
document.write( "1. +$97   |   0.001      |       $97 × 0.001 = +$0.097\r\n" );
document.write( "2. +$72   |   0.002      |       $72 × 0.002 = +$0.144\r\n" );
document.write( "3.  -$3   !   0.997      |       -$3 × 0.997 = -$2.991\r\n" );
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document.write( "  Totals:     1.000                            -$2.75   \r\n" );
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document.write( "The concept is this: If this same raffle were held \r\n" );
document.write( "many times, then if Jake bought one ticket every time,\r\n" );
document.write( "and counted up all his winnings and losses, he would \r\n" );
document.write( "average losing $2.75 per game, and this is considered \r\n" );
document.write( "to be the negative number -$2.75.   \r\n" );
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document.write( "Edwin
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