Answer
The expected value of a single ticket in the raffle = -1.36
Step-by-step explanation
The expected of a single ticket in the raffle can be calculated using:

Since 7000 tickets are sold for $2 each, total amount of tickets sold would be = 7000 x 2 = $14,000
The probability of winning =

The probability of losing =

The gain or loss of winning =

The gain or loss of losing = -2
Therefore, the expected value E(x) of a single ticket in the raffle =
