The scratch off tickets for the $500 Loaded game cost $5 each. If you buy one, what is the expected gain or loss when you consider both the cost of the ticket and the expected value of the ticket? Round to the nearest cent. If the expectation is a gain, your answer should be positive. If the expectation is a loss, your answer should be negative.

Algebra and Trigonometry (6th Edition)
6th Edition
ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
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The scratch off tickets for the $500 Loaded game cost $5 each.  If you buy one, what is the expected gain or loss when you consider both the cost of the ticket and the expected value of the ticket? Round to the nearest cent.

If the expectation is a gain, your answer should be positive.

If the expectation is a loss, your answer should be negative.

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