Question

Asked Nov 23, 2019

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The student council is hosting a drawing to raise money for scholarships. They are selling tickets for $5 each and will sell 900 tickets. There is one $2,000 grand prize, three $400 second prizes, and fourteen $30 third prizes. You just bought a ticket. Find the expected value for your profit. Round to the nearest cent

Step 1

According to the provided information, the number of tickets they will sell is 900...

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