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A student group sells 500 raffle tickets for $2 each. At the drawing the top prize will be
a gift certificate for $100. Second prize will be a $50 gift card and there will be five 3rd
prizes, each a $20 gift card. Do you expect to win or lose (on average)? How much?

Respuesta :

s1m1

Answer:

Step-by-step explanation:

if there are 500 tixets and 7 prizes (1 top prize+1 second prize+5 third prize) your chances of wining are 7/500=0.014 or 1.4% chance

with a 1.4% chance of win and a 98.6% chance to loose in average you can expect to loose.

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