:confused: The prizes that can be won in a sweepstakes are listed below together with the chances of winning each one. $3,500 (1 chance in 8,800); $2,900 (1 chance in 7,000); $600 (1 chance in 4,700); $200 (1 chance in 2,300). Find the expected value of amount won for one entry if the cost entering is 58 cents.

expected value in this case is technically the sum of (prize)(probability)

(3500)(1/8800) + (2900)(1/7000) + (600)(1/4700) + (200)(1/2300) =