A charity organization is selling $10 raffle tickets to raise money for its cause. The first prize is a trip to Disney World valued at $6,500. The second prize is a trip to Dollywood valued at $1,400. The third prize is a trip to the Zoo valued at $170. There are 5,000 tickets sold. If Alex purchases a single ticket, what is the expected value of that ticket to Alex? In American roulette, the wheel has 38 numbers, 00, 0, 1, 2, …, 34, 35, and 36, marked on equally spaced slots. If a player bets $1 on a number and wins, then the player keeps the dollar and receives an additional $35. Otherwise, the dollar is lost. What is the expected value of playing one game of roulette? . It costs $50 to bet on a pig race. The pig you bet on has a 1/12 chance of placing 1st , a 1/8 chance of placing 2nd, and a 1/5 chance of placing 3 rd . If that pig places 1st, you win $200; if the pig places second, you win $50; if that pig places 3rd you win $20. What is your expected net gain/loss for a pig race?