His expected value is 0.057
Explanation:Given that there are 200 lottery tickets sold for $5 each, the total amount on ticket is:
200 * $5 = $1000
Since $62 is for the winner, subtracting the amount bet, we have ($62 - $5 = $57)
His chance of losing is 999/1000
His chance of winning is 1/1000
The expected earning for a ticket is:
57/1000 = 0.057
