3.) A lottery offers one $1000 prize, two $500 prizes and five $100 prizes. Find theexpected value of the drawing if 1000 tickets are sold for $5 each a personpurchases one ticket.

here given 1000 tickets are sold , and selling price of ticket is $5

Answered: expected value of the drawing if 1000…

Algebra: Structure And Method, Book 1

(REV)00th Edition

ISBN:9780395977224

Author:Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole

Publisher:Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole

Chapter11: Rational And Irrational Numbers

Section11.6: The Pythagorean Theorem

Problem 12WE

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expected value of the drawing if 1000 tickets are sold for $5 each a person purchases one ticket.