savin05 savin05

01-03-2024
Mathematics

Answered

The student council is hosting a drawing to raise money for scholarships.
They are selling tickets for $7 each and will sell 800 tickets.

The raffle has:
one $3,000 grand prize,
three $400 second prizes, and
eleven $20 third prizes.

You just bought one ticket. Find the expected value for your profit. Round to the nearest cent.

Answer :

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