Calculate the Expected Value?

Calculate the expected value for playing mega millions with $1000 and winning a prize. Each ticket costing $1 PRIZE LEVEL- CHANCES OF WINNING PER- GAMEPRIZE First- 1 in: 175,711,536- $88,000,000 Second- 1 in:... show more Calculate the expected value for playing mega millions with $1000 and winning a prize. Each ticket costing $1

PRIZE LEVEL- CHANCES OF WINNING PER- GAMEPRIZE
First- 1 in: 175,711,536- $88,000,000
Second- 1 in: 3,904,701- $250,000*
Third- 1 in: 689,065- $10,000*
Fourth- 1 in: 15,313- $150*
Fifth- 1 in: 13,781- $150*
Sixth - 1 in: 844- $10
Seventh- 1 in: 306- $7
Eighth- 1 in: 141- $3
Ninth- 1 in: 75- $2
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