It cost one dollar to buy a lottery ticket, which has five prizes. The prizes and the probability that a player wins the prize are listed here. Calculate the expected value of the payoff.

Prize ($) 1 million 200,000 50,000 Probability 1/10 million 1/1 million 1/500,000 Prize ($) 10,000 1,000 Probability 1/50,000 1/10,000