document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1142974>Question 1142974</A>: <I><SPAN STYLE=\"word-break: break-all;\"> 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. </SPAN>\n" );
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document.write( "The total cost of the tickets is 900($8) = $7200.<br><BR>\n" );
document.write( "The total value of the prizes is $3000 + 2($400) + 10($40) = $4200.<br><BR>\n" );
document.write( "The expected value of a ticket is the average profit of a ticket; that is<br><BR>\n" );
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document.write( "The expected value of a ticket, to the nearest cent, is -$3.33. </SPAN>\n" );
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