The prizes that can be won in a sweepstakes are listed below together with the chances of winning each one. $5900(1 chance in 8100); $2500( 1 chance in 6200); $600 (1 chance in 4700); $300(1 chance in 2600) Find the expected value of the amount won for one entry if the cost to enter is 75 cents. Now I am having trouble setting this up as a probability distribution. I just don't know where to start or what goes where. I know the awnser is $0.62..but i just can't figure out the steps. So far i'v been doing it like this x P(x) ----- ------ Win $5899.25 ? Lose -$.75 ? Well I think i'm setting up "x" wrong and I just don't know what the probability should be. So any help would be apreciated.