The PTO is selling raffle tickets to raise money for classroom supplies. A raffle ticket costs $5. There is 1 winning ticket out of the 300 tickets sold. The winner gets a prize worth $72. Round your answers to the nearest cent. What is the expected value (to you) of one raffle 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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The PTO is selling raffle tickets to raise money for classroom supplies. A raffle ticket costs $5. There is 1
winning ticket out of the 300 tickets sold. The winner gets a prize worth $72. Round your answers to the
nearest cent.
What is the expected value (to you) of one raffle ticket? $
Transcribed Image Text:The PTO is selling raffle tickets to raise money for classroom supplies. A raffle ticket costs $5. There is 1 winning ticket out of the 300 tickets sold. The winner gets a prize worth $72. Round your answers to the nearest cent. What is the expected value (to you) of one raffle ticket? $
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