At a raffle, 250 tickets are sold at $1 each for 3 prizes of $100, $50, and $10. You buy 1 ticket. What is the expected value of

Question

3 years ago

13

At a raffle, 250 tickets are sold at $1 each for 3 prizes of $100, $50, and $10. You buy 1 ticket. What is the expected value of

your gain? Should you play this game?
1. Explain HOW to determine the expected value. (one paragraph)

2. Interpret the meaning of the expected value for this scenario. (one paragraph)

Mathematics

1 answer:

s344n2d4d5 [400] · Answer 1 · 2022-08-06T12:20:14+03:00

Answer: My expected value would be of $10

Step-by-step explanation The way you can determine the expected value is by thinking about the lowest price and how much you paid. I think I would get $10 because They wouldn't make it very easy to get a big prize like $100. Pleas mark this brainliest and I will be glad to help you anytime.