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(Solved): Tickets for a raffle cost $14. There were 824 tickets sold. One ticket will be randomly selected as ...



Tickets for a raffle cost

$14

. There were 824 tickets sold. One ticket will be randomly selected as the winner, and that person wins

$1400

and also the person is given back the cost of the ticket. For someone who buys a ticket, what is the Expected Value (the mean of the distribution)? If the Expected Value is negative, be sure to include the "-" sign with the answer. Express the answer rounded to two decimal places. Expected Value

=$


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