If x is the net gain to a player in a game of chance, then E(x) is usually negative. This value gives the average amount per game the player can expect to lose over the long run. A service organization is selling $3 raffle tickets as part of a fundraising program. The first prize is a boat valued at $2960, and the second prize is a camping tent valued at $400. In addition to the first and second prizes, there are twenty-two $25 gift certificates to be awarded. The number of tickets sold is 3000. Find the expected net gain to the player for one play of the game. Round your answer to the nearest cent.
If x is the net gain to a player in a game of chance, then E(x) is usually negative. This value gives the average amount per game the player can expect to lose over the long run. A service organization is selling $3 raffle tickets as part of a fundraising program. The first prize is a boat valued at $2960, and the second prize is a camping tent valued at $400. In addition to the first and second prizes, there are twenty-two $25 gift certificates to be awarded. The number of tickets sold is 3000. Find the expected net gain to the player for one play of the game. Round your answer to the nearest cent.
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
Chapter9: Systems Of Linear Equations
Section9.6: Wind And Water Current Problems
Problem 14OE
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Transcribed Image Text:If x is the net gain to a player in a game of chance, then E(x) is usually negative. This value gives the
average amount per game the player can expect to lose over the long run. A service organization is selling
$3 raffle tickets as part of a fundraising program. The first prize is a boat valued at $2960, and the second
prize is a camping tent valued at $400. In addition to the first and second prizes, there are twenty-two $25
gift certificates to be awarded. The number of tickets sold is 3000. Find the expected net gain to the player
for one play of the game. Round your answer to the nearest cent.
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