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Two thousand raffle tickets are sold for $2 each. Three prizes will be awarded, one for $1,000 and two for $500. Assume that the probability

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Two thousand raffle tickets are sold for $2 each. Three prizes will be awarded, one for $1,000 and two for $500. Assume that the probability that any given ticket is selected for the $1,000 prize is 2,000 and the probability that any given ticket is selected for a $500 prize is 2,000 tickets. Complete parts (a) and (b) below. . Winners do not have their ticket costs of $2 refunded to them. Jennifer purchases one of these (a) Determine Jennifer's expected value. 35D (Type an integer or a decimal rounded to the nearest hundredth as needed.)

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