Calculating Expected Value of Random Variables Practice Test

A bag contains cards labeled 1, 2, and 5. One card is drawn at random. Let $X$ be the number on the card. The probabilities are $P(X=1)=\tfrac{1}{2}$, $P(X=2)=\tfrac{1}{3}$, and $P(X=5)=\tfrac{1}{6}$ (they sum to 1). What is the expected value of $X$?

A raffle ticket has the following net winnings (in dollars). Let $X$ be the net winnings from buying one ticket. $P(X=-2)=\tfrac{3}{4}$ and $P(X=6)=\tfrac{1}{4}$. What is the expected value of $X$ (in dollars)? (Note: the expected value may not be a possible outcome.)