Question 1134965
<br>
In dollars, the expected payout from one ticket is<br>
{{{(1/900)*1000+(4/900)*300+(13/900)*10 = (1000+1200+130)/900 = 2330/900 = 233/90}}} = $2.48 to the nearest cent.<br>
The cost of the ticket is $7.00.<br>
The expected profit is<br>
$2.48-$7.00 = -$4.52