One thousand raffle tickets are sold for $5.00 each. One grand prize of $800 and two consolation prizes of $100 each will be awarded. Jeremy purchases one ticket. Find his expected value.

Question

anonymous · Answer

one out of a thousand.

anonymous · Answer

ummmm yeah but there is more to that

anonymous · Answer

not really three out of the one thousand are grande but that doesnt make his chances any higher/lower

anonymous · Answer

What is the total value of all prizes combined?
What are the total number of tickets sold?