<PRE><B>Question 1186185</B>
the cost of a ticket is 4 dollars.


1 prize = 800 dollars.
5 lesser prizes = 100 dollars each.


1000 tickets were sold.


expected value would be -4 + 1/1000 * 800 + 5/1000 * 100 = -2.7


to see how this works, suppose you bought all 1000 tickets.


your total cost would be 1000 * 4 = 4000.
1 of them would give you 800.
5 of them would give you 100 each.


your expected value for all 1000 tickets would be -4000 + 1300 = -2700.
divide that by 1000 and it comes out to be -2.7 per ticket.


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