document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1150251>Question 1150251</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 $7 each and will sell 500 tickets. There is one $1,000 grand prize, two $200 second prizes, and fourteen $10 third prizes. You just bought a ticket. Find the expected value for your profit. Round to the nearest cent. </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #771624 by </B><A HREF=/tutors/aboutme.mpl?userid=Boreal><B>Boreal(15235)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=Boreal><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/cgi-bin/show-face.mpl?user=Boreal><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=771624\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> E(x)=sum x*p(x)<BR>\n" );
document.write( "=(1000-7)(1/500)+(200-7)(2/500)+(10-7)(14/500)-7(483/500), because $7 to play in the first place has to come out of the winning.<BR>\n" );
document.write( "=993/500+386/500+42/500-3381/500<BR>\n" );
document.write( "=-1960/500<BR>\n" );
document.write( "=-$3.92 (loss) </SPAN>\n" );
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