Question 1051693
Tickets for a raffle cost $14. 
There were 834 tickets sold. One ticket will be randomly selected as the winner, and that person wins  $1200 and also the person is given back the cost of the ticket. 
For someone who buys a ticket, what is the Expected Value (the mean of the distribution)? 
If the Expected Value is negative, be sure to include the "-" sign with the answer. Express the answer rounded to two decimal place
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Random "winnings":: .... 1214....-14
Probabilities:::........1/834...833/834
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E(x) =(1214 - 14*833)/834 = -$12.53
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Cheers,
Stan H.
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