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A sweepstakes posted the probabilities of winning each prize and the prize amounts as shown in the chart to the right. Suppose that one sweepstakes

A sweepstakes posted the probabilities of winning each prize and the prize amounts as shown in the chart to the right. Suppose that one sweepstakes entry costs$1. Find the expected value of the winnings for any individual entry. Then state how much you can expect to win or lose if you spend$165 in entries.

Prize Probability
$2,000,000 1in80,000,001
$200,000 1in40,000,001
$2000 1in20,000,001

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