1) The student council is hosting a drawing to raise money for scholarships. They are selling tickets for $8 each and will sell 800 tickets. There is one $2,000 grand prize, three $300 second prizes, and sixteen $20 third prizes. You just bought a ticket. Find the expected value for your profit. Round to the nearest cent.

$ _____________

2) A venture capitalist, willing to invest $1,000,000, has three investments to choose from. The first investment, a software company, has a 14% chance of returning $8,000,000 profit, a 30% chance of returning $1,500,000 profit, and a 56% chance of losing the million dollars. The second company, a hardware company, has a 12% chance of returning $8,000,000 profit, a 18% chance of returning $500,000 profit, and a 70% chance of losing the million dollars. The third company, a biotech firm, has a 15% chance of returning $11,000,000 profit, a 41% of no profit or loss, and a 44% chance of losing the million dollars.

Order the expected values from smallest to largest.

• first, third, second
• second, first, third
• second, third, first
• first, second, third
• third, first, second
• third, second, first