document.write( "Question 1172444: A lottery offers two 500$ prizes, five 300$ prizes, and ten 100$ prizes. One thousand tickets are sold at 2$ each. Find the expected value if a person buys one ticket. \n" ); document.write( "

Algebra.Com's Answer #797478 by ikleyn(52781) $\"\"$ $\"About$

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document.write( "The expected win is this amount\r\n" );
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document.write( "     dollars = $3.50.\r\n" );
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document.write( "The expected value is this amount\r\n" );
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document.write( "          $3.50 - $2.00 = $1.50.\r\n" );
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document.write( "Statistically, a player has $1.50 in his (or her) pocket in average after each game, if he (or she) plays many times.\r\n" );
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