In a raffle, 1,000 tickets are sold for $2 each. One ticket will be randomly selected and the winner will receive a laptop computer valued at $1200. What is the expected value for a person that buys one ticket? OA. $0.8 OB. $1.20 O C. - $0.80 OD. -$1.20

Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter10: Sequences, Series, And Probability
Section: Chapter Questions
Problem 35T
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In a raffle, 1,000 tickets are sold for $2 each. One ticket will be randomly selected and the winner will receive a laptop computer valued at $1200. What is the expected value for a person that buys one ticket?
O A. $0.8
OB. $1.20
OC. $0.80
O D. - $1.20
Transcribed Image Text:In a raffle, 1,000 tickets are sold for $2 each. One ticket will be randomly selected and the winner will receive a laptop computer valued at $1200. What is the expected value for a person that buys one ticket? O A. $0.8 OB. $1.20 OC. $0.80 O D. - $1.20
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