What if you purchase a 10$ ticket and you are entered into a chance of winning the car, a Yamaha motorcycle, and a Samsung S22 ultra. What is the expected value of your gain?

winning the car, winning the motorcycle, or winning the phone. The cash worth of the first, second, and third prizes, respectively, are $30,000 for car, $5,000 for motorcycle, and $1,000 for smartphone. Because three different outcomes could occur, and each one has an equal possibility of doing so.

In this project, you will need to evaluate the loss and gain in each situation, following the format below.