contestada

A club is holding a raffle. Ten thousand
tickets have been sold for $2 each. There
will be a 1st prize of $3000, 3 second prizes
of $1000 each, 5 third prizes of $500 each
and 20 consolation prizes of $100 each.
Find the expected winnings of a single ticket.

A club is holding a raffle Ten thousand tickets have been sold for 2 each There will be a 1st prize of 3000 3 second prizes of 1000 each 5 third prizes of 500 e class=

Respuesta :

DatGuy323

First take 10,000 * 2 = 20,000, because each of the 10,000 tickets cost 2 dollars.

3000(1/20000) + 1000(3/20000) + 500(5/20000) + 100(20/10000) = 10500/20000 = .525

Thus, each ticket is worth 52.5 cents.

Hope it helps <3

Answer: Other answer is incorrect. It’s asking for the expected winnings of a single ticket. The answer is -.95

Step-by-step explanation:

1/10,000

3/10,000

5/10,000

20/10,000

9971/10,000

-

2998

998

498

98

-2

-

2998+2994+2490+1960-1992 =

-9500/10000 = -.95

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