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If x is the net gain to a player in a game of chance, then E(x) is usually negative. This value gives the average amount per game the player can expect to lose over the long run. A service organization is selling $2 raffle tickets as part of a fundraising program. The first prize is a boat valued at $2950, and the second prize is a camping tent valued at $400. In addition to the first and second prizes, there are twenty-four $23 gift certificates to be awarded. The number of tickets sold is 3000. Find the expected net gain to the player for one play of the game. Round your answer to the nearest cent.
Penalty
A punishment imposed for breaking a law, rule, or contract which often involves paying a fine or undergoing some form of restraint.
Implied Powers
Powers not explicitly stated but are considered necessary for fulfilling the expressly granted powers of an authority or government body.
Incorporated
refers to the process by which a business becomes a legally recognized entity that is distinct from its owners, providing benefits like liability protection and tax advantages.
Corporation Name
The legal name under which a corporation is registered to conduct business.
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