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QUESTION

Imagine going to an electronics conference that is selling raffle tickets for $1.25 at the door. The prizes to be given away are:

Imagine going to an electronics conference that is selling raffle tickets for $1.25 at the door. The prizes to be given away are: a $355 large flat screen TV, two $88 MP3 players, and three $15 digital jump drives. Knowing that exactly 600 raffle tickets are sold, what is the expected value of each ticket you buy? (Use the cash value of the prizes along with their respective probabilities, and remember that a raffle ticket costs you $1.25.)

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