At a raffle, 30 tickets are sold at $1 each for 3 prizes of $50, $10, and $5. You buy 1 ticket. What is the expected value of your gain? O-$2.50 O $2.07 O $1.17 O $1.27

Holt Mcdougal Larson Pre-algebra: Student Edition 2012
1st Edition
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
Chapter7: Percents
Section7.1: Percents And Fractions
Problem 5C
icon
Related questions
Question
At a raffle, 30 tickets are sold at $1 each for 3 prizes of $50, $10, and $5.
You buy 1 ticket. What is the expected value of your gain?
O-$2.50
O$2.07
O $1.17
O $1.27
Transcribed Image Text:At a raffle, 30 tickets are sold at $1 each for 3 prizes of $50, $10, and $5. You buy 1 ticket. What is the expected value of your gain? O-$2.50 O$2.07 O $1.17 O $1.27
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps with 1 images

Blurred answer
Recommended textbooks for you
Holt Mcdougal Larson Pre-algebra: Student Edition…
Holt Mcdougal Larson Pre-algebra: Student Edition…
Algebra
ISBN:
9780547587776
Author:
HOLT MCDOUGAL
Publisher:
HOLT MCDOUGAL
College Algebra (MindTap Course List)
College Algebra (MindTap Course List)
Algebra
ISBN:
9781305652231
Author:
R. David Gustafson, Jeff Hughes
Publisher:
Cengage Learning
Calculus For The Life Sciences
Calculus For The Life Sciences
Calculus
ISBN:
9780321964038
Author:
GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:
Pearson Addison Wesley,