Question 1128748
<br>
(1/8880) * $14,000 for the grand prize
(1/8880) * $800 for the second prize<br>
Total expected value:<br>
{{{(1/8880)*14000+(1/8880)*800 = 14800/8880 = 5/3}}}<br>
The expected winnings (payout) is 5/3 of a dollar for each ticket.  To the nearest penny, that is $1.67.<br>
If you include the $5 cost of the ticket, the expected "winnings" is $1.67-$5 = -$3.33.