You just bought one ticket. Find the expected value for your profit

Holt Mcdougal Larson Pre-algebra: Student Edition 2012
1st Edition
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
Chapter7: Percents
Section: Chapter Questions
Problem 25CR
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The student council is hosting a drawing to raise money for scholarships.
They are selling tickets for $10 each and will sell 900 tickets.

The raffle has:
one $3,000 grand prize,
two $500 second prizes, and
fifteen $20 third prizes.

You just bought one ticket. Find the expected value for your profit. Round to the nearest cent.

$

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