One thousand raffle tickets are sold at P100 each for a prize of a colored television values at P15,000. What is the expected value of the gain if a person purchases one ticket?

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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One thousand raffle tickets are sold at P100 each for a prize of a colored television values at P15,000. What is the expected value of the gain if a
person purchases one ticket?
Select the correct response:
45
14.99
85
-14.99
-85
-45
99.9
Transcribed Image Text:One thousand raffle tickets are sold at P100 each for a prize of a colored television values at P15,000. What is the expected value of the gain if a person purchases one ticket? Select the correct response: 45 14.99 85 -14.99 -85 -45 99.9
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