document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=285602>Question 285602</A>: <I><SPAN STYLE=\"word-break: break-all;\"> A raffle offers a first prize of $500, and two second prizes of $50 each. One ticket costs $2, and 1000 tickets are sold. Find the expected winnings for a person who buys one ticket.    </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #207014 by </B><A HREF=/tutors/aboutme.mpl?userid=stanbon><B>stanbon(75887)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=stanbon><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/images/nopicture.jpg><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=207014\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> A raffle offers a first prize of $500, <BR>\n" );
document.write( "and two second prizes of $50 each. <BR>\n" );
document.write( "One ticket costs $2, and 1000 tickets are sold. <BR>\n" );
document.write( "Find the expected winnings for a person who buys one ticket.<BR>\n" );
document.write( "-------------<BR>\n" );
document.write( "Random winning values are: 498,48,-2<BR>\n" );
document.write( "Correspondiing probabilities are: 1/500, 2/500, 497/500<BR>\n" );
document.write( "-------------<BR>\n" );
document.write( "Expected winnings = (498+2(48)+(497)(-2))/500<BR>\n" );
document.write( "---<BR>\n" );
document.write( "= (498 + 96 - 994)/500<BR>\n" );
document.write( "---<BR>\n" );
document.write( "= (-400/500)<BR>\n" );
document.write( "= -4/5<BR>\n" );
document.write( "= -$0.80<BR>\n" );
document.write( "============================<BR>\n" );
document.write( "Cheers,<BR>\n" );
document.write( "Stan H. </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );