document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=934890>Question 934890</A>: <I><SPAN STYLE=\"word-break: break-all;\"> A charitable  organization is selling raffle tickets for $4 . The first prize a laptop computer valued at to us $2210 second prize is an  electric scooter valued at $970. The remaining prizes are 35 third prize gift certificates each valued at $35.suppose 2500 tickets were sold and you bought 1 ticket what is the expected value of your gain or loss?  Express your answer in dollars and cent's rounded to the nearest penny I.e. 2 decimal places </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #567956 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=567956\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> A charitable organization is selling raffle tickets for $4 . <BR>\n" );
document.write( "The first prize a laptop computer valued at to us $2210 <BR>\n" );
document.write( "second prize is an electric scooter valued at $970. <BR>\n" );
document.write( "The remaining prizes are 35 third prize gift certificates each valued at $35.<BR>\n" );
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document.write( "suppose 2500 tickets were sold and you bought 1 ticket <BR>\n" );
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document.write( "what is the expected value of your gain or loss? <BR>\n" );
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document.write( "Express your answer in dollars and cent's rounded to the nearest penny I.e. 2 decimal places<BR>\n" );
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document.write( "Random \"winnings\":::....2206....966....31(35 times)...-4<BR>\n" );
document.write( "Probabilities::::::::::: 1/2500..1/2500..35/2500.....2463/2500<BR>\n" );
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document.write( "Expected \"winnings\" = [2206 + 966 + 1085 - 9852]/2500 = -$2.24<BR>\n" );
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document.write( "Cheers,<BR>\n" );
document.write( "Stan H.<BR>\n" );
document.write( "------------------- </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );