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The Big River Casino is advertising a new digital lottery-style game called Instant Lotto. The player can win the following monetary prizes with the associated

The Big River Casino is advertising a new digital lottery-style game called Instant Lotto. The player

can win the following monetary prizes with the associated probabilities:

5% probability to win $10

4% probability to win $15

3% probability to win $30

1% probability to win $50

0.1% probability to win the Grand Prize, $1000.

(a) Calculate the expected value of the prize for one play of Instant Lotto.

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