Five thousand tickets are sold at $1 each for a charity raffle. Tickets are to be drawn at random and monetary prizes awarded as follows: 1 prize of $900, 3 prizes of $200,5 prizes of $10, and 20 prizes of $5. What is the expected value of this raffle if you buy 1 ticket?
a. Let X be the random variable for the amount won on a single raffle ticket. Complete the payoff table for the random variable X.
xi
(Enter the net amount won in decreasing order.)
(Type probabilities as decimals.)
PI