QUESTION 15 Suppose an area school is selling raffle tickets for $10 each. A total of 500 tickets are sold and one winning ticket is drawn. The person holding the winning ticket will win $2.000. What is the expected value for this raffle? Answer: ? Work: Outcome Probability of Outcome $2.000 – $10 = $1,990 $10 Additional work to get expected value: ?

QUESTION 15 Suppose an area school is selling raffle tickets for $10 each. A total of 500 tickets are sold and one winning ticket is drawn. The person holding the winning ticket will win $2.000. What is the expected value for this raffle? Answer: ? Work: Outcome Probability of Outcome $2.000 – $10 = $1,990 $10 Additional work to get expected value: ?

College Algebra

7th Edition

ISBN:9781305115545

Author:James Stewart, Lothar Redlin, Saleem Watson

Publisher:James Stewart, Lothar Redlin, Saleem Watson

Chapter9: Counting And Probability

Section9.4: Expected Value

Problem 19E: Lottery In a 6/49 lottery game, a player pays $1 and selects six numbers from 1 to 49. Any player...

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