=+A fund-raising lottery offers 500 tickets for $3 each. If the grand prize is $250 and 4 second prizes are $50 each, what is the expected value of a single ticket? (Don’t count the cost of the ticket in this yet.) Now, including its cost, what is the expected value of the ticket? (Knowing this value, does it make any “sense” to buy a lottery ticket?) The fund-raising group has a target of $1000 to be raised by the lottery. Can they expect to make this much?