Question

An ice cream parlor serves ice cream cones, milkshakes, and waffles with ice cream. The cost of an ice cream cone is $1.20, the cost of a milkshake is $2.00, and the cost of a waffle with ice cream is $3.50. If 50% of the customers choose an ice cream cone, 30% choose a milkshake, and 20% choose a waffle with ice cream, what is the expected value of the cost of one item served at the parlor?