The PTO is selling raffle tickets to raise money for classroom supplies. A raffle ticket costs $3. There is 1 winning ticket out of the 300 tickets sold. The winner gets a prize worth $76. Round your answers to the nearest cent.
What is the expected value (to you) of one raffle ticket? $
Calculate the expected value (to you) if you purchase 12 raffle tickets.
What is the expected value (to the PTO) of one raffle ticket? $
If the PTO sells all 300 raffle tickets, how much money will they raise for the classroom supplies?
