   Chapter 9.8, Problem 15ES ### Discrete Mathematics With Applicat...

5th Edition
EPP + 1 other
ISBN: 9781337694193

#### Solutions

Chapter
Section ### Discrete Mathematics With Applicat...

5th Edition
EPP + 1 other
ISBN: 9781337694193
Textbook Problem
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# A company offers a raffle whose grand prize is a $40,000 new car. Additional prizes are a$1,000 television and a $500 computer. Tickets cost$20 each. Ticket income over the cost of the prizes will be donted to charity. If 3,000 tickets are sold, what is the expected gain or loss of each ticket?

To determine

To find the expected gain or loss of each ticket.

Explanation

Given information:

The grand prize of the car is $40,000. Additional prizes are a$1,000 television and a $500 computer. The cost of each ticket is$20 and total number of tickets sold is 3000.

Calculation:

As per the given information the total cost of the prize will be $40,000+$1,000+$500=$41,500

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