What price should the PTA charge if they want to make this raffle "fair"

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter0: Preparing For Algebra
Section: Chapter Questions
Problem 69POT
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What price should the PTA charge if they want to make this raffle "fair"

PTA
The PTA sells 1000 tickets for $5 each. One ticket will be randomly selected, and the
winner will receive an iPhone 11 valued at $700.
Transcribed Image Text:PTA The PTA sells 1000 tickets for $5 each. One ticket will be randomly selected, and the winner will receive an iPhone 11 valued at $700.
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