Chapter 4.1, Problem 38E

A high school basketball team is selling $10 raffle tickets as part of a fund-raising program. The first prize is a trip to the Bahamas valued at $5460, and the second prize is a weekend ski package valued at $496. The remaining 18 prizes are $100 gas cards. The number of tickets sold is 3500.

Finding an Expected Value In Exercises 37and 38, find the expected value E(x) to the player for one play of the game. If x is the gain to a player in a game of chance, then E(x) is usually negative. This value gives the average amount per game the player can expect to lose.