Scalped Ticket

One of your favorite sports teams is playing at a local stadium, but you waited until the last minute to buy a ticket.

You can buy a scalped (second-hand) ticket for $50, which has a 20% chance of not working. If the scalped ticket doesn’t work, you’ll have to buy a box office ticket for $70 at the stadium.

1. How much do you expect to pay to go to the sports game?
2. How much money should you set aside for the game?