[jman3232]

EV= probability*value
1/6*1+1/6*2+1/6*3....+1/6*6

so yes it is 3.5

The second part... hmmm EV of U without selling ticket is 1/4*(110)^2 + 3/4*(100)^2= 3025+7500= 10525= U

so... because U=m^2, m= 102.59...
Sell it for at least $2.59. It probably doesn't make that much sense, but its what I see.