One thousand tickets are sold at $3 each. One ticket will be randomly selected and the winner will receive a color television valued at $354. What is the expected value for a person that buys one ticket? Round the answer to the nearest cent.
One thousand tickets are sold at $3 each. One ticket will be randomly selected and the winner will receive a color television valued at $354. What is the expected value for a person that buys one ticket? Round the answer to the nearest cent.
Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter10: Sequences, Series, And Probability
Section: Chapter Questions
Problem 35T
Related questions
Question
One thousand tickets are sold at
$3
each. One ticket will be randomly selected and the winner will receive a color television valued at
$354.
What is the expected value for a person that buys one ticket? Round the answer to the nearest cent.
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