1700 lottery tickets are sold for $25 each, and one grand prize of $4100 is awarded. If you purchase one ticket, find your expectation per ticket

expected gain: 4100/1700 -cost of ticket

= 4100/1700 - 25= figure it out

So buying more tickets will not make you more money, if fact, you lose more

To find your expectation per ticket, we need to calculate the expected value, also known as the expected return or average value.

First, let's calculate the total amount of money collected from selling the lottery tickets:
Total Money collected = Number of tickets sold * Price per ticket
Total Money collected = 1700 * 25
Total Money collected = $42,500

Next, let's calculate the probability of winning the grand prize:
Probability of winning the grand prize = 1 / Number of tickets sold
Probability of winning the grand prize = 1 / 1700 = 0.000588

Now, we can calculate the expected value:
Expected Value = (Probability of winning) * (Amount won) + (Probability of not winning) * (Amount lost)
Expected Value = (0.000588 * $4100) + ((1 - 0.000588) * -$25)

Calculating this, we get:
Expected Value = $2.41

Therefore, your expectation per ticket is $2.41.