document.write( "Question 675571: PLEASE HELP!!!!\r
\n" ); document.write( "\n" ); document.write( "Suppose a charitable organization decides to raise money by raffling a trip worth $500. If 3000 tickets are sold at $1 each, find the expected net winnings in dollars for a person who buys 1 ticket.
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Algebra.Com's Answer #419928 by MathLover1(20850)\"\" \"About 
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\n" ); document.write( "If he wins, the change in his financial holdings is $\"500-1=+499\".\r
\n" ); document.write( "\n" ); document.write( "If he loses, the change in his financial holdings is $\"-1\".\r
\n" ); document.write( "\n" ); document.write( "The probability he will win is \"1%2F3000\" (\"one\" ticket out of \"3000\")\r
\n" ); document.write( "\n" ); document.write( "and the probability he will lose is \"2999%2F1000\".\r
\n" ); document.write( "\n" ); document.write( "Therefore, his expected net winnings are:\r
\n" ); document.write( "\n" ); document.write( "\"E+=+499%281%2F3000%29+%2B+%28-1%29%282999%2F3000%29\"..........(winning $1 bet).\r
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\n" ); document.write( "\n" ); document.write( "= \"%28499%2F3000%29%2B%28-2999%2F3000%29\" \r
\n" ); document.write( "\n" ); document.write( "= \"-2500%2F3000\" \r
\n" ); document.write( "\n" ); document.write( "= \"-0.83\"\r
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