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 Winners do not have their ticket costs of $2 refunded to them. 1 2 and the probability that any given ticket is selected for a $500 prize is 2,000 Jennifer purchases one of these tickets. Complete parts (a) and (b) below. 2,000 (a) Determine Jennifer's expected value. S (Type an integer or a decimal rounded to the nearest hundredth as needed.) (b) Determine the fair price of a ticket. (Type an integer or a decimal rounded to the nearest hundredth as needed.)