A math club is researching a golf tournament fund-raiser. It will cost $1,000 to host the tournament. If it rains, the club will
lose the investment. If it is sunny, it is expected that the club will collect $4,500 from the participants. If the chance of rain is 20%, solve for the expected value for the tournament. A.) –$800
B.) –$200
C.) $2600
D.) $3400
Cost of hosting the tournament : $1,000 If it rains, the club will lose the investment: $ -1,000 If it is sunny, the club will collect $4,500 ; profit: 4,500 - 1000 = 3,500
