Probability

[istar]

In its flip a lid contest, a coffee chain offers prizes of 50,000 free coffees, each worth $1.50; two new TVs, each worth $1200; a snowmobile worth $15 000; and sports car worth $35 000. A total of 1 000 000 promotional coffee cups have been printed for contest. Coffee sells for $1.50 per cup. What is the expected value of cup of coffee to the customer?

 

[Prof]

Please read the rules of the forum at https://www.freemathhelp.com/forum/threads/read-before-posting.46556/
You are expected to post some work, and then we will reply. You could start by finding the probability of winning each of the 4 prizes.
To find the expected value, you will need to compute the probability of each prize times its dollar value. Submit some work and someone from the forum will help you continue from there.