What is the expected value of this raffle to you if you buy one ticket?

Question

Volunteer for a charity raffle sold 1,000 tickets at $15 each. Tickets are to be drawn at random and monetary prizes are awarded as follows: one prize of $800; two prizes of $500; five prizes of $300; and ten prizes of $100. What is the expected value of this raffle to you if you buy one ticket?

Answer 1

prize payout divided by total pay-in.
4300/15000 = 28.8%
28.8% x 10 = $2.80.