You pay $20 to enter a raffle.  The first ticket drawn wins $990, the second ticket drawn wins $465, the third through fifth win $203, and the sixth through tenth win $49.  Suppose 2032 tickets were sold.  What is the expected earning on your ticket?

College Algebra (MindTap Course List)
12th Edition
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:R. David Gustafson, Jeff Hughes
Chapter8: Sequences, Series, And Probability
Section8.7: Probability
Problem 33E: Find the probability of each event. Drawing 5 orange cubes from a bowl containing 5 orange cubes and...
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You pay $20 to enter a raffle.  The first ticket drawn wins $990, the second ticket drawn wins $465, the third through fifth win $203, and the sixth through tenth win $49.  Suppose 2032 tickets were sold.  What is the expected earning on your ticket?

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