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Expected value

Hugo is considering buying a scratch-off lottery ticket that costs 33 dollars. If the ticket wins, he can redeem the ticket for 5050 dollars. If the ticket loses, the ticket is worthless. According to the lottery's website, 2%2\% of all tickets are winners.
Find the expected value of buying a scratch-off lottery ticket.
  • Your answer should be
  • an integer, like 66
  • a simplified proper fraction, like 3/53/5
  • a simplified improper fraction, like 7/47/4
  • a mixed number, like 1 3/41\ 3/4
  • an exact decimal, like 0.750.75
  • a multiple of pi, like 12 pi12\ \text{pi} or 2/3 pi2/3\ \text{pi}
dollars