document.write( "Question 1142974: The student council is hosting a drawing to raise money for scholarships. They are selling tickets for $8 each and will sell 900 tickets. There is one $3,000 grand prize, two $400 second prizes, and ten $40 third prizes. You just bought a ticket. Find the expected value for your profit. Round to the nearest cent. \n" ); document.write( "

Algebra.Com's Answer #763708 by ikleyn(52781) $\"\"$ $\"About$

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document.write( "Expected value for win is\r\n" );
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document.write( "     dollars =  dollars =  =  =  dollars = $4.67.\r\n" );
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document.write( "Expected value for the profit is  $4.67 - $8 = $3.33.     ANSWER\r\n" );
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