Krinkles Potato Chips Is Having a Lucky Seven Sweepstakes $70,000$ ; $7$

Krinkles potato chips is having a Lucky Seven Sweepstakes. The one grand prize is $ $70,000$ ; $7$ second prizes each pay $ $7,000$ ; $7$ third prizes each pay $ $700$ ; and $777$ fourth prizes each pay $ $70$ . What is the expectation of this contest (rounded to the nearest cent) , if there are $1$ million entries?

A) $0.21
B) $0.24
C) $0.25
D) $0.23
E) $0.22

Correct Answer:

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