Question 1142974
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The total cost of the tickets is 900($8) = $7200.<br>
The total value of the prizes is $3000 + 2($400) + 10($40) = $4200.<br>
The expected value of a ticket is the average profit of a ticket; that is<br>
{{{(-$7200+$4200)/900 = -$3000/900 = -$10/3}}}<br>
The expected value of a ticket, to the nearest cent, is -$3.33.