A raffle offers a first prize of $1000, 2 second prizes of $300, and 20 third prizes of $10 each. If 8000 tickets are sold at 50 cents each, find the expected winnings for a person buying 1 ticket. What are the expected winnings? cents (Round your answer to the nearest whole cent.)

Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter10: Sequences, Series, And Probability
Section: Chapter Questions
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A raffle offers a first prize of $1000, 2 second prizes of $300, and 20 third prizes of $10 each. If 8000 tickets are sold at 50 cents each, find the expected winnings for a person buying 1 ticket.
What are the expected winnings?
cents
(Round your answer to the nearest whole cent.)
Transcribed Image Text:A raffle offers a first prize of $1000, 2 second prizes of $300, and 20 third prizes of $10 each. If 8000 tickets are sold at 50 cents each, find the expected winnings for a person buying 1 ticket. What are the expected winnings? cents (Round your answer to the nearest whole cent.)
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