When a number is increased by 35 the results is 38
1 answer:
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Answer: The expected value of purchasing a raffle ticket would be $0.3449.
Step-by-step explanation:
Since we have given that
Number of tickets = 5500
Number of flower arrangements = 20
Number of gift certificates = 20
So, Probability that wining $70 at flower arrangement =
Probability that wining $25 at gift certificates =
So, Expected value of purchasing a raffle ticket would be
Hence, the expected value of purchasing a raffle ticket would be $0.3449.