There is a profit of $39.7.
It is given that there 100 tickets costing $10 per ticket.
You must look first for the probability of the 4 prizes which are $475, $195, $30, and no prize.
P ($475 prize) = 1/100 or 0.01
P ($95 prize) = 2/100 or 0.02
P ($30 prize) = 4/100 or 0.04
P (No prize) = 100/100 – 1+2+4/100 =93/100 .93
Expected gain or loss is computed by: (P(x)* n)
E= (475-10)*.01 + (95-10)*0.02 + (30-10)* 0.04 + (-10)*.93
= 46.5 + 1.70 + 0.8 – 9.3
E = 39.7
There is a profit of $39.7.
To know more about probability visit: brainly.com/question/13604758
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