ren98christy

While working on the study guide for tomorrow’s quiz I came across question #2, which says:

Suppose I can buy a lottery ticket for $1 to get 1 chance in 10,000 to win $10,000 and 99 chances in 10,000 to win $100. What is the expected value of that ticket?

I was a bit confused as how to go about finding the expected value of the ticket. Could anyone help lead me in the right direction??